NSSA to increase pension benefits
Farirai Machivenyika Senior Reporter
Government is set to increase pensioners’ benefits from the National Social Security Authority (NSSA) once the ongoing actuarial evaluation exercise is complete, a Cabinet Minister has revealed.
Public Service, Labour and Social Welfare Minister, Prisca Mupfumira, said this during the National Assembly question and answer session on Wednesday.
“At the moment, there is an actuarial evaluation going on that will determine the level of increment,” she said.
“It should be completed by end of June and hopefully by September there would have been an increase.
“What we want is to ensure that pensioners receive a living wage and I would prefer they get in the region of $150 because we have interests of people at heart.”
Pensioners are currently receiving $60 per month from NSSA upon reaching the retirement age.
Minister Mupfumira said NSSA had improved funeral benefits since April 1, with families of the deceased now receiving $300 and a casket, while those with private funeral policies receive $500.
She said NSSA was reviewing all its investments.
“At the moment, NSSA is reviewing its investments in various companies to ensure that contributors benefit from their investments,” said Minister Mupfumira.
“I believe even the National Health Insurance Scheme can be introduced without increasing from existing contributions if we manage our investments properly.”