NSSA raises pension payouts

Pamela Shumba, Senior Reporter
THE National Social Security Authority (NSSA) has increased pension pay-outs from $60 to $80 per month in an effort to improve the welfare of pensioners.

By the end of the year, Government hopes to have increased the pay-outs to $100.

Members of Parliament have, however, criticised the $20 increment, saying it did not make a difference to the lives of the pensioners.

Responding to questions in Parliament on Wednesday, the Deputy Minister of Public Service, Labour and Social Services, Tapiwa Matangaidze said they hope to increase the pay-outs again by the end of this year from the $80 which each individual is now getting.

“When we said we wanted the pension pay-outs to be increased to $100 or $150, we were describing the way we wanted things done and the way pensions had to be paid out. We had looked at the money which was being paid, they were receiving $60 and we said $60 was too little.

“We felt that it was not enough to meet the daily needs of these pensioners, hence we said it should be raised to $100 or even to $150 if possible because it will be a better living wage,” said Deputy Minister Matangaidze.

He said it was unfortunate that NSSA did not have enough funds to pay pensioners, but it was the Ministry’s wish to give pensioners reasonable pay-outs.

“We have people whom we call actuaries. These actuaries give us information on the payments which we make. We then make our payments regarding the actuaries so that we do not deplete our funds in NSSA.

“The information given to us was that, if we increase payments from $60 to $80 and then increase the age of retirement from 60 to 65, the amount is going to last us until 2045. Hence, instead of going to $100 we have to increase from $60 to $80 but it is the Ministry’s wish that the pay-out should be increased should funds allow,” said Deputy Minister Matangaidze.

He said the $100 or $150 payments was only a projection not a commitment and efforts will be made to increase the money soon.

Mkoba MP Amos Chibaya had earlier said it was not fair for Government to make promises, especially to pensioners, most of whom are elderly people and not fulfil them.—@pamelashumba1.