Important Notice on SSNIT Tier 1, Tier 2 and Tier 3 Pension Schemes for 2023

    Important Notice on SSNIT Tier 1, Tier 2 and Tier 3 Pension Schemes for 2023

    Ferdinand | EducationGhana |May 02| Important Notice on SSNIT Tier 1, Tier 2 and Tier 3 Pension Schemes for 2023



    The Social Security and National Insurance Trust (SSNIT) has announced updates to its pension scheme for 2023. The SSNIT pension scheme is an important social security program in Ghana, providing retirement benefits to eligible members. This article provides an overview of the 2023 SSNIT pension scheme updates and the benefits they offer.

    The 2023 SSNIT pension scheme updates will bring more flexibility to the scheme. The updates will allow members to choose their own retirement age, ranging from 55 to 70 years. The scheme will also provide members with more options for how to receive their pension payments, including lump-sum payments, monthly payments, or a combination of both. The updates also include an increase in the minimum pension benefit from GH¢250 to GH¢350.

    In addition, the updates will allow members to transfer their pension funds to another SSNIT-approved pension fund. This will enable members to take advantage of higher returns on their investments. The updates also provide for tax relief for members who contribute to the scheme and allow members to access their pension funds in case of emergency.


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    Below is  the Important Notice on SSNIT Tier 1, Tier 2 and Tier 3 Pension Schemes for 2023

    • A retiree contributor will benefit from Tier 2 as his/her Lump Sum, and SSNIT which is mandated for the payment of monthly pension salary.

    • Contributors who were in the Service before *2016* should note that on retirement, they have *Past Credit* (a sizeable Lump Sum to be collected from SSNIT) in addition to their *Tier 2 Lump Sum.* This is a result of accumulated funds in a *suspended account* between 2010 and 2016 before the funds were released to the various Fund Managers.

    • Contributors who were appointed in *2016* and beyond are not entitled to any *Past Credit* from SSNIT when they retire.

    • Contributors “who have been born and reborn” (have different Dates of Birth at their work place and at SSNIT) whether deliberately or unintentionally, have created serious problems for themselves.

    • Those who have the same dates as mentioned above, but have a different date of birth on their National ID (Ghana) Card, have problems similar to those mentioned above. This is because for any different Date of Birth, the system will recognize you as a different person; and as such, your accumulated contribution will be suspended in that account searching for its rightful owner who has metamorphosized with the date of birth.

    • With a different Date of Birth on your Ghana Card which might be accidental, you cannot claim your benefits after retirement.

    • Contributors who have problems as mentioned above, *should correct all those anomalies* in time before pension so that all the dates are commensurate (tally) for easy claiming of benefits.

    • Periodically, contributors are urged to update their beneficiaries to effect the necessary changes.

    • Tier 2 became operational without contributors being made to input any beneficiary as it pertains in SSNIT. This means many contributors below the age of *60,* have died in the last two years; and their Tier 2 Lump Sum was not claimed by any beneficiary due to that lapse.

    • Your SSNIT beneficiaries *are not necessarily the same ones to used for your Tier 2.* You can make, omissions, insertions, maintain them all, or totally overhaul them.

    • If the number of your beneficiaries exceeds FIVE (5), request for additional Form.

    • There is NO limitation to the number of beneficiaries. However, *ensure that your allocation of benefit sums up to 100%.*

    • If all the beneficiaries are *minors,* ensure that you include *one adult* (probably the mother/father of the children) who can make claims in your “catastrophic absence” *through a Letter of Consent.*

    • Without any adult among the beneficiaries, in case of any misfortune (death of contributor), your Tier 2 Lump Sum will be withheld in your account till any of the minor beneficiaries attains the age of eighteen (18).

    • Ensure that you input the correct Date (s) of Birth of your beneficiaries that correspond to those on their Birth Certificates, or the same dates used on the Form above will be used in the processing of the “ID (Ghana Card). Otherwise, they cannot make claims.

    Tier 3, which is voluntary by the contributor, shouldn’t exceed *16.5%* of the contributor’s basic salary.

    Benefits of the Updated Scheme

    The 2023 SSNIT pension scheme updates provide a number of benefits to members. The increased flexibility of the scheme allows members to choose their own retirement age and receive their pension payments in the way that best suits their needs. The increase in the minimum pension benefit also provides members with greater financial security.

    The updates also provide members with access to higher returns on their investments by allowing them to transfer their pension funds to another SSNIT-approved pension fund. The tax relief offered by the scheme will also help members to save more for their retirement. Finally, the ability to access pension funds in case of emergency provides members with greater peace of mind.


    SSNIT Contributions

    Ensure all employees are registered under the Scheme. Make regular contributions on behalf of the workers to SSNIT. Deduct 5.5% of the workers salary every month and add 13% of 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.


     Employer Obligations

    Employers are required to contribute a percentage of the employee’s salary to the SSNIT Pension Scheme. This contribution is based on the employee’s salary and the number of years they have been employed.


    The First Tier is the Basic National Social Security Scheme for all workers in Ghana.  It is a defined benefit scheme and mandatory for workers to have 13.5% contributions made on their behalf.  The contribution is managed by SSNIT.

    The Second Tier is a defined contributory Occupational Pension Scheme mandatory for workers with 5% contribution made on behalf of members.  The contribution is managed privately by approved Trustees.

    The Third Tier
     which includes all Provident Funds and all other Pension Funds outside Tiers I and II is a voluntary scheme.


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    Worker – 5.5% of workers’ basic salary
    Employer – 13% of workers’ basic salary
    Total – 18.5% of workers’ basic salary

        • Out of the 18.5%, the employer remits 13.5% to SSNIT within 14 days following the end of the month to the mandatory First-Tier Basic Social Security Scheme.
        • Again out of the 13.5% paid to SSNIT, 2.5% is sent to the NHIA for the member’s health insurance.
        • The residual 5% is sent to the mandatory Second Tier Occupational Scheme which will be privately managed by Trustees approved and licensed by the Board of NPRA.

    The 3 –Tier scheme covers all workers in both the private and public sector.  It is optional for the self-employed.

    Additional Groups

        • Cap 30
        • Teachers’ Pension Ordinance
        • Superannuation of Ghana Universities Staff
        • Ghana Police
        • Immigration Service Persons
        • Prisons Service
        • National Fire Service
    • Officers and men of the Ghana Armed Forces
    • Categories of persons exempted by the 1992 Constitution. e.g. Electoral Commissioner, CHRAJ Commissioner, Chief Justice, etc.

    SSNIT Contact Information

    The SSNIT helpline can be reached on 0302 611 622. TOLL-FREE NUMBER (Vodafone & Expresso). 0800 1100 94.

    The SSNIT Pension Scheme is an important part of Ghanaian life. It provides retirement benefits, social security and death benefits to employees and their families. In 2023, the scheme will undergo some changes, including an increase in the minimum and maximum contribution rates. If you require more information about the SSNIT Pension Scheme, you can contact the SSNIT helpline.



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    Important Notice on SSNIT Tier 1, Tier 2 and Tier 3 Pension Schemes for 2023 | 1




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