Ghc559 Monthly NSS Allowance Is Only Ghc45.8 In 2016. Increase The Allowance For God’s Sake. [Service Personnel Cries Out.]

Ghc559 Monthly NSS Allowance Is Only Ghc45.8 In 2016. Increase The Allowance For God’s Sake. [Service Personnel Cries Out.]

Teaser 1: Do you know the Ghc559 monthly allowance paid to national service personnel currently is only Ghc45 in the year 2016, compared to the Ghc350 paid to service personnel in 2016 before it was increased to Ghc559 in the year 2017 and remained same till date?

Teaser 2: Locate the link inside here to join the group of National Service Personnel advocating an increase in the service allowance. Join them to fight for the increase or stay away do not complain about the amount

Highlights

1. When adjusted for inflation over the past six years, the current Ghc559 paid to national service personnel is only Ghc45.8 in the year 2016

2. Annual inflation for the years 2017, 2018, 2019, 2020, 2021 and 2022 are 11.8%, 9.4%, 7.9%, 9.9%, 12.6% and 40.4% respectively

Click here to join the group demanding #IncreaseNSSllawa on Whatsapp

3. To adjust the current Ghc559 for inflation, the compound effect of the inflation (discount factor/figure) must be calculated. And the discount factor used to divide the current amount of Ghc559

4. The Discount Factor therefore is 1.118 x 1.94 x 1.79 x 1.99 x 1.126 x 1.404 which totalled 12.21.

5. The Discounted Amount in the year 2016 therefore is Ghc559 √∑ 12.21 = Ghc45.8

Click here to join the group demanding #IncreaseNSSallawa on Telegram

6. The implication of the value is that, the Ghc559 being received by the national service personnel is only Ghc45.8 in the year 2016 compared to the Ghc350 paid to the 2016 batch of the national service personnel

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