The Social Security and National Insurance (SSNIT) has defended the slightly lower increment in the 2017 monthly pension compared with that in 2016.
In line with the Pensions Act, SSNIT last week increased the minimum monthly pension of GHC276 to almost GHC335 for existing SSNIT pensioners. Fresh pensioners receive a minimum monthly pension of GHC276.
This represents an 18 percent increase, albeit two percent lower than the 20 percent in 2016.
But the Corporate Affairs Manager at SSNIT, Eva Amegashie explains there is no cause for alarm.
“There are certain economic indicator and salaries of last year (2016) which explains what the indexation is going to be for each year,” she said.
Explaining the difference in increment, she said, “those who are yet to come on, we are now are going to pay them so they are minimum.”
Mrs Amegashie explained further that the 18 percent is the minimum but depending on much pension one receives because it can go up.
“We had someone earning GHC29700 as his monthly pension,” she said emphasising the figure is always affected by the salary one is earning before they disengage from work.