NSSA Awards Pensioners A 13th Cheque {Full Text}

PRESS RELEASE

NSSA awards 13th cheque to pensioners

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 a 13th cheque.

This will be paid together with December 2019 benefits payouts via the usual channels such as banks and mobile money platforms.

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.

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Earlier in July 2019 the Board, in consultation with the Minister, awarded NSSA pensioners once oFf discretionary bonus equivalent to a month’s pension.

The decision was taken as a stop-gap measure while working for the conclusion of the mid-Term actuarial review.

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 (POS) and the minimum workers pension from $80 to $240 for the Accident Prevention and Workers Compensation Scheme (APWCS).

Those who were above the minimum pension were awarded a 65% and 200% increment across the board for POS and APWCS, respectively. NSSA also reviewed the Funeral Grant for both the schemes from $300 to $2 000.

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 the schemes.

Issued on 9 December 2019 by

Dr Cuthbert Chidooni NISSA Board Chairman