{"id":1130488,"date":"2022-06-22T07:04:31","date_gmt":"2022-06-22T07:04:31","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/06\/22\/what-determines-the-size-of-your-ssnit-benefits-or-pension\/"},"modified":"2022-06-22T07:04:31","modified_gmt":"2022-06-22T07:04:31","slug":"what-determines-the-size-of-your-ssnit-benefits-or-pension","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/06\/22\/what-determines-the-size-of-your-ssnit-benefits-or-pension\/","title":{"rendered":"What Determines the Size of Your SSNIT Benefits or Pension"},"content":{"rendered":"<p><\/p>\n<div>\n<article>\n<p><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/06\/40707b3297e94ca48951b4d4aa3b8abc\"\/><\/p>\n<p>It&#8217;s the desire of every contributor of the Social Security and National Insurance Trust (SSNIT), that he or she will retire one day with something that can take care of old age.<\/p>\n<p>The reality here as to the size of benefit a contributor takes home is not determined on the final day. There are factors that give an impression of what the future will be for you.<\/p>\n<p><span style=\"color: rgb(119, 119, 119);\">It is worth mentioning that:<\/span><\/p>\n<p><span style=\"color: rgb(119, 119, 119);\">1. SSNIT scheme is earnings related<\/span><\/p>\n<p><span style=\"color: rgb(119, 119, 119);\">2. Generally members with higher salaries receive higher pensions or benefits for the dependants in the event of death of a deceased member. <\/span><\/p>\n<p><span style=\"color: rgb(119, 119, 119);\">3. It is also important to note that a pension is a replacement of part of an income and therefore cannot be more than an income a member earned prior to retirement. <\/span><\/p>\n<p><span style=\"color: rgb(119, 119, 119);\">4. Finally, the SSNIT scheme has an inherent mechanism for reviewing pensions every year<\/span>.<\/p>\n<p>Additionally, <span style=\"color: rgb(77, 81, 86);\">The Pension Right is\u00a02.5% for each year of contribution for the first 15 years and 1.125% for every additional year up to<\/span><strong style=\"color: rgb(77, 81, 86);\"> <\/strong><span style=\"color: rgb(77, 81, 86);\">maximum of 60.0%. To qualify for Reduced Pension, You must be 55 years and above but below 60 years of age.<\/span><\/p>\n<p><span style=\"color: rgb(77, 81, 86);\">If you want a higher benefits, then you must start working for higher salary from now.<\/span><\/p>\n<p><span style=\"color: rgb(77, 81, 86);\">\ufeff<\/span><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/06\/d13978f5a25a4b3e854cdd9a4d882e37\"\/><\/p>\n<p>Content created and supplied by: Dolaw (via  Opera<br \/>\nNews )<\/p>\n<\/article>\n<p class=\"copyright hide\">\n<span class=\"content\">    ,  .   ,     .       () , , , , , , , , .      \/ ,  and\/or  .     ,  , and\/or  ,      and\/or     <\/span><br \/>\n<span class=\"see-more\"><\/span>\n<\/p>\n<section class=\"tags\">\nSSNIT<br \/>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s the desire of every contributor of the Social Security and National Insurance Trust (SSNIT), that he or she will retire one day with something that can take care of old age. The reality here as to the size of benefit a contributor takes home is not determined on the final day. There are factors [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1130489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[726,12838,1235,5958,364],"class_list":{"0":"post-1130488","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-stories","8":"tag-benefits","9":"tag-determines","10":"tag-pension","11":"tag-size","12":"tag-ssnit"},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1130488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1130488"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1130488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1130488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1130488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1130488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}