Zimbabwe. NSSA increases pension payouts
The National Social Security Authority (NSSA) has more than doubled its minimum pensions from $80 to $200 a month, while workers’ compensation scheme minimum pensions have been tripled from $80 to $240.
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The increases have been backdated to October 1 with the payments due from today. NSSA funeral grants on all schemes have been pushed up from $300 to $2 000. In a statement yesterday, NSSA board chairman Dr Cuthbert Chidoori said the reviews followed an actuarial valuation in consultation with the Minister of Finance and Economic Development Prof Mthuli Ncube.
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“Following a mid-term actuarial evaluation that was necessitated by the need to review NSSA benefits in response to prevailing economic fundamentals, the Minister of Public Service, Labour and Social Welfare, with effect from 1 October, 2019, reviewed benefits payable under the authority’s two schemes,” he said.
“Earlier in July 2019, the ministry in consultation with the NSSA board, awarded NSSA pensioners a once off discretionary bonus equivalent to a month’s pension to cushion them from the general increase in the cost of living.
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