Business News of Thursday, 2 January 2020Source: www.ghanaweb.comPensioners to get more money - SSNITThe Social Security and National Insurance Trust (SSNIT)The Social Security and National Insurance Trust (SSNIT) has assured pensioners of an increase in their payroll for 2020. The approved overall indexation rate of 11% for 2020 is higher than the forecasted inflation rate of 8.0% for 2020. The overall indexation amount was redistributed at a Fixed Rate of 6.6% and a Flat Amount of GH¢ 37.38 for all Pensioners on the SSNIT Pension Payroll as at 31st December 2019.”With this redistribution, lowest-earning pensioners will get an effective increase of 19.06%. 98% of pensioners will receive an effective increase equal to or above the targeted inflation rate for 2020. Additionally, Pensioners on the SSNIT Pension Payroll as at 31st December 2019 receiving the minimum pension of GHC300.00 will have their pensions increased to GH¢357.18 (an increase of 19.06%).

Source: GhanaWeb January 02, 2020 16:52 UTC