By Sarah Baafi
The Concerned SSNIT Pensioners Forum (CSPF) has rejected the Social Security and National Insurance Trust’s (SSNIT) newly announced 10 per cent pension indexation for 2026, describing it as insufficient to address the worsening economic hardship confronting pensioners, especially low-income retirees.
In a press release dated January 10, 2026, the Forum said the adjustment fails to reflect the rising cost of living, inflation, and healthcare expenses, arguing that the annual percentage increases have become meaningless without the introduction of a guaranteed minimum living pension.
While acknowledging SSNIT’s decision to increase pensions, the CSPF stressed that the adjustment does little to stop pensioner poverty, noting that many retirees remain unable to afford basic necessities such as food, medication, and healthcare.
Earlier Petition to SSNIT
The Forum revealed that it formally petitioned SSNIT on November 19, 2025, calling for urgent reforms to the pension adjustment system. The petition was also copied to the Minister for Finance, the Minister of Employment and Labour Relations, and the Chief Executive Officer of the National Pensions Authority, seeking their intervention.
According to CSPF, the petition requested SSNIT to raise the minimum monthly pension to GH¢600 and implement an average pension increase of 15 to 20 per cent for 2026. The aim, the Forum explained, was to partially restore the value of pensions eroded over the years by adjustments that consistently lag behind inflation and the national minimum wage.
The Forum highlighted that the 2025 minimum monthly pension of GH¢396.58 was grossly inadequate, stating that the amount could barely cover medication costs for many pensioners, forcing them to depend on family members and others for survival.
Conflicting Statements on Minimum Pension
The CSPF also raised concerns about what it described as inconsistencies in SSNIT’s public communications regarding minimum pension levels.
It cited a SSNIT press release issued on January 6, 2025, which stated that redistribution had increased the minimum monthly pension from GH¢300 in 2024 to GH¢396.58 in 2025, representing a 32.19 per cent increase.
However, in a subsequent press release dated January 8, 2026, SSNIT announced that the minimum monthly pension for new pensioners had increased from GH¢300 to GH¢400, adding that pensioners “currently on minimum pension of GH¢300” would receive GH¢409.56 following the 2026 indexation and redistribution.
The Forum questioned how pensioners could still be receiving GH¢300 in 2026 when SSNIT had earlier indicated that no pensioner earned below GH¢396.58 in 2025. CSPF has therefore called on SSNIT to clarify what officially constitutes the minimum pension in Ghana.
Call for National Minimum Pension Policy
Beyond the immediate concerns, the Forum called for a broader policy shift, arguing that Ghana must adopt a national minimum pension policy, similar to the national minimum wage, to guarantee retirees a dignified standard of living.
According to CSPF, the current focus on percentage-based pension adjustments ignores the real-life challenges faced by the elderly, whose needs increase with age, particularly in healthcare.
“The annual increments are detached from the lived reality of pensioners,” the statement said, adding that many retirees remain trapped in poverty despite yearly increases.
Demand for Inclusive National Dialogue
The Forum is therefore demanding an urgent and inclusive national dialogue involving SSNIT, policymakers, organised labour, pensioner associations, economic planners, and civil society organisations to establish a sustainable and realistic minimum pension benchmark.
Without such reforms, the CSPF warned, the dignity and well-being of Ghana’s retirees will remain under serious threat as living and healthcare costs continue to rise.
The Forum reaffirmed its commitment to engaging SSNIT and relevant government institutions in its quest for pension justice, equity, and policies that guarantee a dignified life for all pensioners in Ghana.
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Source:
www.gbcghanaonline.com
