The Minister for Employment and Labour Relations, Mr Ignatius Baffour Awuah, has stated that the review of the 2023 payroll monitoring resulted in a reduction of the wage bill by over GHS 345 million.
The Minister, who disclosed this on Wednesday in Accra, noted that last year the Fair Wages and Salaries Commission conducted a nationwide payroll monitoring which covered 120 Public Sector Institutions consisting of 97 MMDAs, six (6) universities, and 17 others.
According to the Minister, the government commissioned a review of the Labour Act, 2003 (Act 651) and the Single Spine Pay Policy to meet the growing needs of workers.
“Through these efforts, public sector workers on the Single Spine Salary Structure in 2023 received the highest adjustment of the Base Pay since the introduction of the Single Spine Pay Policy in 2010” he added.
He said that within the same period, pensioners on the SSNIT pension payroll also had their monthly pensions increased by 25%
“The 25% increment represents the highest pension indexation since the introduction of the contributory Three-Tier Pension Scheme in 2008,” he added.
He further stated that these adjustments reflect the government’s commitment to maintaining high levels of income for workers and pensioners.
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Publish date : 2024-08-29 17:03:25
