Chronicle Editor
Michell Zvanyanya, Chronicle Reporter
THE National Social Security Authority (NSSA) Board has awarded pensioners a once off bonus payment equivalent to a month’s pension which will see the lowest paid pensioner earning $400 from $200 this month.
The pensioners are expected to receive their bonus together with this month’s pay outs.
In a statement yesterday, NSSA Board Chairman, Mr Cuthbert Chidoori said the award is necessitated by the need to cushion the pensioners from the effects of prevailing inflationary pressures which have eroded the value of pensions.
“The NSSA Board, in consultation with the Minister of Public Service, Labour and Social Welfare, Honourable Professor Paul Mavima, has awarded NSSA pensioners a bonus equivalent to the 13th cheque.
‘‘This will be paid together with December 2019 benefits pay outs via the usual channels such as banks and mobile money platforms,” he said.
“The Authority is sensitive to the welfare of its beneficiaries and has this year taken several initiatives to cushion them from the effects of the rising cost of living.”
Mr Chidoori said in October this year NSSA increased monthly pensions for its members by almost 200 percent and has resulted in the lowest paid pensioner now earning $200 from $80.
“Following the completion of the mid-term actuarial review and the subsequent recommendations, NSSA in October 2019 increased the minimum monthly retirement pension from $80 to 200 for the Pension and other Benefits Scheme. The minimum worker’s pension was increased from $80 to $240 for the Accident Prevention and Worker’s Compensation Scheme (APWCS). Those who were above the minimum pension were awarded a 65 percent and 200 percent increment across the board for POBS and APWCS, respectively,” he said.
Mr Chidoori said the NSSA funeral grant for both schemes were also reviewed from $300 to $2 000.
The NSSA board chair said the authority will continue monitoring the situation to ensure pensioners are cushioned.
“Going forward NSSA, in consultation with the Ministry of Public Service, Labour and Social Welfare 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 schemes,” he said. – @michellzvanyanyan2
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