Business News of Saturday, 5 January 2013

Source: myjoyonline

Pensioners welcome increased monthly benefits

Pensioners have welcomed the increase in their monthly benefits by the Social Security and National Insurance Trust (SSNIT).

The Trust Wednesday announced that it has increased pensioners benefits by a fixed rate of 12 percent and an additional Gh¢21.36 with immediate effect.

According to SSNIT, the increase is in line with a new policy that ties benefits to the contributions and salary increment for the previous year.

The Trust has also placed all pensioners on a minimum monthly benefit of GH¢100. This means no pensioner will earn below this amount every month.

Edward Ameyibor, the President of the Pensioners Association told Joy News he was particularly excited by the fact that, “there will be no pensioner in Ghana who will receive less than a 100 Cedis a month.”

According to him, it “is a significant breakthrough...because if 20 years after going on pension people still receive less than a 100 Cedis I think that is a national shame so if we have removed that then we have moved forward.”