The Social Security and National Insurance Trust (SSNIT) has announced a 10 percent pension indexation for 2026 to protect the purchasing power of pensioners while ensuring the sustainability of the pension scheme.
Presenting the details at a press conference in Accra, the Chief Actuary of SSNIT, Evelyn Adusei, said the indexation is in line with Section 80 of the National Pensions Act, 2008, which mandates annual reviews of pension payment.
She explained that the 10 percent indexation is not applied uniformly but through a redistribution model aimed at benefiting low-income pensioners.
Under the arrangement, all pensioners will receive a 6 percent increase across the board, plus a flat addition of GH¢91.56. This results in higher effective increases for pensioners on lower incomes.
For example, the minimum pension will increase from GH¢300 in 2025 to GH¢409.56 in 2026 an effective increase of 36.52 percent. Meanwhile, the highest pension will see an effective increase of about 6.05 percent.
Mrs. Adusei said the indexation will cost the Trust an additional GH¢660 million, bringing total pension payments in 2026 to nearly GH¢7 billion, excluding new pensioners and lump sum benefits.
She added that the minimum pension floor for new pensioners joining in 2026 will increase from GH¢300 to GH¢400.
According to SSNIT, about 70 percent of pensioners will receive an effective increase of 10 percent or more under the new structure.
