FEBRUARY 2025 – GHANA
SOCIAL SECURITY CONTRIBUTIONS CEILINGH
It is important that employers note the following:
Social Security and National Insurance Trust (SSNIT) contributions increase
On 28 January 2025 SSNIT released a public notice to inform employers about the increase to the maximum insurable earnings limit.
Statutory contributions towards retirement are categorised under a three-tiered scheme as follows:
- First tier – a mandatory basic social security scheme;
- Second tier – a mandatory fully funded and privately managed occupational scheme; and
- Third tier – a voluntary fully funded and privately managed provident fund and personal pension scheme.
Effective 1 January 2025, the monthly salary cap for Tier 1 has increased from GHS 52,000 to GHS 61,000.
As a result:
- The maximum contribution payable to SSNIT is now GHS 8,235.00.
- The minimum contribution is GHS 66.16.
The mandatory monthly social security and occupational scheme contribution rates are:
- Employers: 13% of the employee’s salary.
- Employees: 5.5% of the employee’s salary.
All SSNIT limits for previous months must be backdated and recalculated accordingly.
To view the public notice, follow the link.
