SSNIT Insurable Earnings is increased Effective 1st January 2023. Government workers and pensioners Again?
A letter issued by Management of Social Security and National Insurance Trust (SSNIT) indicates that, SSNIT Insurable Earnings is increased to pave way for socioeconomic stability and development in order to restore the financial impediment Ghana is battling with.
As if generically, the statement from SSNIT is metaphorical and pregnant in meaning but in real context, that is the clear truth without any ambiguity or adultration.
SSNIT has succeeded in increasing both the maximum and minimum insurable in to separate sections or earnings.
The maximum insurable earnings has been increased from thirty-five Ghana cedis (35,000ghc) to forty-two thousand Ghana cedis (42,000ghc)
SSNIT Insurable Earnings is increased
Assurance was given that, this increment is taking effect on 1st day of January, 2023. According to SSNIT, this increment became possible and even more necessary after they thoroughly consulted and had discussions with National Pension Regulatory Authority in lined with National pensions Act of Ghana, 2008 section 63 clause 3.
The adverse effect of this, caused the minimum insurable earnings to also increase from approximately three hundred and sixty- five Ghana cedis (ghc365.33) to four hundred and two Ghana cedis (ghc401.76) They uttered that, this current happenings was as a result of the rise in the National Daily Minimum Wage.
They are urging employers to comply with the changes and contribute accordingly.
SSNIT Insurable Earnings is increased
The file attached below is the letter from Social Security and Nation Insurance Trust notifying the entire public about the decisions and actions they intended to do and have already implemented hence, the citizenry should be prepared or be ever ready to enjoy the exacerbating consequences accompanied by this sudden change. They are sorry for the inconveniences it may creat.
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