Harare, (New Ziana) –The National Social Security Authority (NSSA) says its investment income has increased tenfold over the past four years, a development it says has strengthened its capacity to cushion pensioners and injured workers against growing economic hardships.
In a statement, NSSA said its investment returns rose from nearly US$4 million in 2022 to about US$40 million this year, marking a significant growth trajectory for the social security institution.
The authority said the growth comes at a time when economies across the world are grappling with inflation, market instability and geopolitical tensions that continue to erode household incomes and increase the cost of living.
It noted that the increase in investment earnings has enabled it to provide additional financial support to beneficiaries under its schemes, particularly pensioners and workers affected by occupational injuries.
“As part of ongoing efforts to support beneficiaries during difficult economic conditions, the Authority has awarded a once-off discretionary bonus equivalent to 100 percent of a beneficiary’s monthly pension,” NSSA said.
According to the statement, the bonus applies to beneficiaries under the Pension and Other Benefits Scheme (POBS) as well as the Accident Prevention and Workers’ Compensation Scheme (APWCS).
NSSA said beneficiaries under the Pension and Other Benefits Scheme will receive bonus payments ranging from a minimum of US$70 to a maximum of US$372. Those under the Accident Prevention and Workers’ Compensation Scheme will receive between US$100 and US$2 970.43, depending on their benefit category.
The authority also indicated that it continues to prioritise foreign currency payments in a bid to preserve the value of pensions.
“Currently, 83.33 percent of the minimum pension is being paid in United States dollars, while the remaining balance is being paid in ZiG at the prevailing official exchange rate,” NSSA said in the statement.
The latest announcement comes amid mounting concerns over the welfare of pensioners, many of whom have struggled to cope with rising prices of basic commodities, healthcare costs and transport fares in recent years.
New Ziana
