By Daniel Itai.
Harare, Zimbabwe (News of The South) – Zimbabwe’s National Social Security Authority (NSSA) has increased monthly pensions for all its members.
The pensions authority said the review was necessitated by the prevailing inflationary pressures, which have eroded the value of pensions.
The least paid pensioner will now be getting $200 (approximately US$12.50) from $80 a month, the increases have been backdated to October 1st.
NSSA board chairperson, Cuthbert Chidoori said, “the minister of Public Service, Labour and Social Welfare has, with effect from 1 October 2019, reviewed benefits payable under the authority’s two schemes.
Minimum monthly retirement pension increased to $200 from $80. In addition all pensions have increased by 65 percent across all boards.
Minimum monthly workers’ pension Accident Prevention and Workers’ Compensation Scheme (APWCS) increased to $240 from $80. All monthly pensions for APWCS have been increased by 200 percent across the board.
Going forward NSSA in consultation with all stakeholders and Government will continue to monitor economic developments and the general cost of living to assess the level of social impact to pensioners and align the level of benefits reviews, taking into account the long term sustainability of the schemes.”
Funeral grants are now set at $2 000 (approximately $125) from $300 on all schemes. The pensioners are expected to receive their reviewed earnings today.
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