SSNIT Disburses GHS 450 Million to Pensioners, Enhancing Financial Security for Retirees
The Social Security and National Insurance Trust (SSNIT) has made a notable disbursement of GHS450.07 million to 251,576 pensioners for September 2024, with payments processed on September 19. This significant allocation underscores SSNIT’s ongoing commitment to supporting retirees across Ghana and reflects its dedication to enhancing financial security in the retirement sector.
In its announcement, SSNIT detailed the distribution of pension benefits under both PNDC Law 247 and Act 766. The maximum monthly pension under PNDC Law 247 reached GHS186,777.58, while the highest pension under Act 766 stood at GHS26,509.66. On the lower end of the spectrum, existing pensioners received a minimum of GHS409.10, while new pensioners were granted at least GHS300.00.
The September disbursement marked an increase of 996 pensioners compared to the previous month, indicating a growing recognition of the importance of pension provisions in Ghana’s socio-economic landscape. Pensioners can access their benefits through designated banking institutions, facilitating a streamlined process for receiving their entitlements.
SSNIT emphasized its commitment to ensuring financial stability for retirees and urged workers to engage in effective retirement planning to optimize their benefits. With the next pension payment scheduled for October 17, 2024, SSNIT remains focused on prioritizing the financial well-being of Ghana’s retired workforce, acknowledging the crucial role pensions play in maintaining a dignified standard of living for retirees.
