The Social Security and National Insurance Trust (SSNIT) has increased (indexed) pensions-in-payment for 2012 in accordance with Section 80 of the National Pensions Act, 2008 (Act 766).

In a statement released on Wednesday, SSNIT says, “in view of this indexation, all pensions-in-payment as at December 31, 2011 will increase by a fixed rate of 5% and a flat amount of GH¢15.27 per pensioner.”

The statement said this means that pensions have been increased by 38.89% for the lowest pensioner and by 5.13% for the highest pension earner.

The new minimum monthly pension will now be GH¢50.46 for new pensioners with effect from January 2012.

Pensioners already on the Minimum Pension of GH¢45.06 as at December, 2011 will from January 2012 be on GH¢62.58.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.