Our today’s article is going to talk about the SSNIT Salary Structure In Ghana 2021.
Table of Contents
What Is SSNIT in Ghana?
The Social Security and National Insurance Trust (SSNIT) is a statutory public Trust charged under the National Pensions Act, 2008 Act 766 with the administration of Ghana’s Basic National Social Security Scheme. Its mandate is to cater for the First Tier of the Three-Tier Pension Scheme. The Trust is currently the largest non-bank financial institution in Ghana.
The primary responsibility of the Trust is to replace part of lost income of workers in Ghana due to Old Age, Invalidity or Death of a member where dependants receive lump sum payment. It is also responsible for the payment of Emigration benefit to a non-Ghanaian member who is leaving Ghana permanently.
The Pension Scheme as administered by SSNIT has an active membership of over 1.6 million as at January, 2021 with over 226,000 pensioners who regularly receive their monthly pensions from SSNIT.
The Social Security and National Insurance Trust (SSNIT) administrates the national pension scheme, according to the salary structure of the organization, each and every SSNIT worker typically earns around 3000 Ghana Cedis per a month, and the monthly salary includes housing, transport and other benefits.
In Ghana, every journalist under SSNIT is paid based on two things which are qualification and rank. Each and every full time journalist also works 48 hours per week. This forms the main idea behind the single spine salary introduction few years ago. SNNIT workers with high qualifications are paid higher than workers with lower qualifications.
How SSNIT Is Calculated On Salary
SSNIT has a very special way of calculation on salaries, their formula is something simple to understand.
According to their law, they deduct 5.5% of the worker’s salary every month and add 13% of the worker’s basic salary to make 18.5%. Out of the 18.5% the employer is to remit 13.5% to the Trust within 14 days of the ensuing month. 2.5% of the 13.5% paid by employer to SSNIT shall be transferred by the Trust to the National Health Insurance Authority.
HOW MUCH DO PENSIONERS UNDER SNNIT RECEIVE IN GHANA?
As at 31st December 2021, pensioners received the minimum pension of 3000 Ghana Cedis, it was increased by GH¢340.49 representing a percentage of 11.5%. But the normal actual pension was reduced back to GH¢3000 earlier on the 1st of January 2021. Therefore, the monthly pensioners amount is actually GH¢3000.
In summary, SSNIT Worker in Ghana typically earns around 3000 GHS per month. The monthly salary includes housing, transport, and other benefits under the SSNIT law of Ghana.
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