The Social Security and National Insurance Trust (SSNIT) has paid a total of GHS 513.73 million to over 254,317 pensioners for the month of February 2025.In a Facebook post, the Trust noted that the disbursement forms part of its commitment to ensuring the timely payment of pensions to retirees under the national scheme.

Earlier this year, SSNIT announced a 12% adjustment in pensions for 2025, starting in January.

This revision was made in coordination with the National Pensions Regulatory Authority (NPRA) and complies with Section 80 of the National Pensions Act, 2008 (Act 766).

As per SSNIT, all retirees receiving benefits as of December 31, 2024, will see an average increase of 12% in their monthly payments.

The adjustment includes a fixed increment of 8% along with an additional GH¢72.58, which accounts for 4% redistributed to assist lower-income pensioners.

“Redistribution is a mechanism applied to the indexation rate to cushion low-earning pensioners in conformity with the solidarity principle of social security. As a result, pensioners will have an effective increment between 32.19% at the bottom end and 8.04% at the top end. Redistribution ensures that the minimum monthly pension of GH¢300 in 2024 will increase to GH¢396.58 in 2025, an effective increase of 32.19%”, a statement from SSNIT said.

This redistribution policy aims to provide extra relief for pensioners with lower earnings, following the social security solidarity principle.

Consequently, those receiving the least will experience a 32.19% boost, while those at the highest level will see an 8.04% rise.

With this revision, the minimum monthly pension will increase from GH¢300 in 2024 to GH¢396.58 in 2025.

For retirees under PNDC Law 247, the highest monthly benefit will now stand at GH¢201,792.37, marking an 8.04% growth. Meanwhile, the average pension will move from GH¢1,776.81 in 2024 to GH¢1,990.03 in 2025.

SSNIT further disclosed that 63% of pensioners, particularly those earning GH¢1,814.50 or less per month, will benefit from increases ranging from 12% to 32.19%, ensuring their income keeps pace with inflation.

The revised pensions took effect in January 2025, with payments scheduled for the third Thursday of every month.