$491,8m grocery allowances for Nssa pensioners

THE National Social Security Authority (Nssa) says it will disburse nearly half-a-billion dollars in grocery allowances to its beneficiaries starting next month to June this year as part of measures to cushion pensioners against the adverse impact of the Covid-19 pandemic.

The deadly respiratory disease, which was declared a national disaster by President Mnangagwa in March last year, has adversely affected the welfare of pensioners, disrupted normal production patterns and crippled incomes for millions of ordinary Zimbabweans.

Nssa general manager, Mr Arthur Manase, said yesterday that disbursing grocery allowances was part of measures being explored by the authority to improve the welfare of pensioners and their dependants.

“Nssa will disburse a total of ZWL$491 838 523 in grocery allowances to its 228 932 beneficiaries between March and June 2021,” said Mr Manase in a statement.

In 2020 Nssa awarded discretionary bonuses of 100 percent of monthly pension between April to June, 150 percent in July and 200 percent between August and October.

“The discretionary bonuses were awarded while waiting for the results of an ad hoc actuarial evaluation that was carried out to determine the level of benefits payouts the fund could afford to pay sustainably,” said Mr Manase.

“The valuation recommended a 200 percent pension increase across the board, subject to minimum retirement pension of ZWL$1 000, up from ZWL$200.

“The funeral grant for both schemes was also reviewed from ZWL$2 000 to ZWL$5 000.”

The recommendations were implemented last November, he added. Mr Manase said another actuarial evaluation was underway to determine the next level of benefits that the authority can sustainably pay whose results were expected mid-next month with implementation slated for April.

“Going forward Nssa will be implementing a self-adjusting mechanism on insurable earnings, which is expected to improve the contributions income, thereby allowing the authority to review benefits payouts levels in line with changes in the economy,” said Mr Manase.

He said consideration was also being given to rolling out non-monetary benefits such as empowering pensioners through economic activities that generate sustainable income.

These include goat farming outgrower schemes, discounts at participating shops, waiver of bank charges, revolving fund for retirees and pensioners, as well as assistance with medical care, among others.

Nssa is mandated by the Government to provide social security for the generality of Zimbabweans in line with the Nssa Act of 1989. The authority administers two schemes, the Pension and Other Benefits Scheme and the Accident Prevention and Workers’ Compensation Scheme.

The organisation has recently rebranded its corporate identity as it gears to improve operations and impact on livelihoods of its members.-ebusinessweekly.c.zw