The minimum pension payment to low-contributing pensioners should be increased, according to the Africa Center for Retirement Research.
According to the center, low contributors’ meagre monthly poverty relief payment of GH300 undermines their quality of life and needs to be increased in order to protect them.
According to the center, given the state of the economy, the amount is insufficient to support any retiree.
The executive director of the Africa Center for Retirement Research, Abdallah Mashud, claims that he anticipates SSNIT raising the minimum pensions payable.
“The International Labour Organization (ILO) has emphasized the importance of maintaining minimum standards for social security administration. PNDC Law 247 and the National Pension Act also provide for the payment of minimum pension, but it has however become a major concern how minimum pension is treated by SSNIT, especially in the last few years.
“Claim analysis shows that the minimum pension had consistently increased since the year 2000 and in some cases, has even doubled especially in 2013 and 2014. The minimum pension has stood at GH¢200 for four successive years.”
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Mr. Mashud continued by stating that the Center hopes the Government would act to raise the minimum pension payable for the year 2023.
“We need to also make known that the minimum pension of GH¢300, representing just $30 per month has been paid to pensioners for years and this amount is woefully inadequate so to sustain low-earning contributors, our expectation is that SSNIT must significantly increase the minimum pension for the year 2023.”
Source: Citinews
