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NSSA awards pensioners bonus

by Staff reporter
31 Mar 2020 at 07:50hrs | Views
The National Social Security Authority (NSSA) has awarded pensioners a discretionary bonus equivalent to a month's pension, which will be paid together with the April disbursements.

In a statement yesterday, acting NSSA general manager Mr Arthur Manase said: "The National Social Security Authority in consultation with the Minister of Public Service, Labour and Social Welfare Professor Paul Mavima, has awarded NSSA pensioners once off discretionary bonus equivalent to a month's pension to cushion NSSA pensioners from the general increase in the cost of living.

"The bonus will be paid together with the April pension disbursements. The decision was taken as a stop-gap measure while the authority is working on a periodic actuarial review.

The actuarial valuation will guide the authority in determining the level of benefits reviews, considering the long term sustainability of its schemes."

The discretionary bonus comes five months after NSSA increased the minimum monthly pension from $80 to $200 for the pension and other benefits scheme and the minimum workers' pension from $80 to $240 for the accident prevention and workers' compensation scheme.

Source - the herald

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