The Social Security and National Insurance Trust (SSNIT) has officially announced a 10% increase in monthly pensions for the year 2026. This significant adjustment ensures that all pensioners who were on SSNIT's payroll as of December 31, 2025, will benefit from an average 10% rise in their monthly payments, reflecting a steadfast commitment to enhancing the welfare of its beneficiaries.

This 10% indexation rate notably surpasses Ghana's recent inflation figures. Specifically, it is nearly double the 5.4% inflation rate recorded in December 2024 and is also higher than the projected average inflation of 8% (with a +/- 2% margin) anticipated by the end of 2025. Kwesi Afreh Biney, the Director-General of SSNIT, underscored the importance of this, stating, "It is also important to state that the current indexation is higher than the recent inflation rate. What that means is that every pensioner on the payroll has been covered by inflation," highlighting the Trust's dedication to preserving the purchasing power of pensioners.

The determination of the 2026 indexation rate involved a careful consideration of multiple factors. These include the observed salary growth among active contributors to the scheme, the aforementioned projected average inflation by the close of 2025, and a thorough assessment of the overall impact of the increase on the Fund’s long-term sustainability. The new indexation was formally approved following extensive consultation with the National Pensions Regulatory Authority (NPRA), in strict adherence to Section 80 of the National Pensions Act, 2008 (Act 766).

The overall 10% indexation is structured to ensure fairness, comprising a 6% fixed increase for all pensions, with the remaining portion effectively redistributed among beneficiaries. This redistribution strategy is specifically designed to provide larger effective increases to pensioners at the lower end of the payment scale, aligning with SSNIT’s focus on equity.

To further support vulnerable pensioners and promote equity, SSNIT has also implemented substantial adjustments to the minimum monthly pension. For new retirees, the minimum monthly pension has been raised from GH¢300.00 to GH¢400.00, representing an impressive 33.33% increment. This particular increase is set to benefit approximately 2,964 new pensioners, reinforcing the pension floor across the scheme. For existing pensioners who were previously receiving the minimum, their payments will now increase to GH¢409.56 in 2026, marking a 36.52% increase from the previous GH¢300.00 minimum. Director-General Kwesi Afreh Biney and Chief Actuary Evelyn Adjei reiterated this commitment, emphasizing the scheme’s goal to ensure that "those at the lower end are as protected as possible, while ensuring sustainability."

Illustrating the impact across the spectrum, the highest-earning SSNIT pensioner, who received GH¢201,792.37 as of December 31, 2025, is projected to receive GH¢213,991.47 per month in 2026. This demonstrates how higher-income pensioners will see increases closer to the full 10% indexation, while lower-income retirees are expected to benefit most from the flat amount and the strengthened minimum pension. In total, SSNIT estimates that it will disburse over GH¢7 billion in pension payments throughout 2026, equating to more than GH¢580 million distributed monthly.

Looking ahead, SSNIT is actively pursuing strategies for the scheme's continued growth and long-term sustainability. The Trust revealed ambitious plans to enroll over 200,000 new contributors in 2026, further solidifying the financial base of the National Pensions Scheme. These measures collectively underscore SSNIT’s unwavering dedication to providing robust social security for its members and ensuring the viability of the pension fund for future generations.