NSSA awards pensioners’ discretionary bonus

STAFF REPORTER

Zimbabwe’s State-run pension fund, the National Social Security Authority (NSSA) has awarded pensioners a once-off discretionary bonus equivalent to a month’s pension to cushion them from the increase in cost of living.

Monthly pension payouts range between ZWL$200 and ZWL$240.

But, recent developments in the economy especially currency reforms that resulted in the return of the Zimbabwe dollar have negatively impacted on the pensioners.

NSSA acting general manager, Arthur Manase said the bonus “will be paid together with the April pension disbursements”.

“The decision was taken as a stopgap measure while the Authority is working on a periodic actuarial review,” Manase said.

He added: “The actuarial valuation will guide the Authority in determining the level of benefits reviews, considering the long-term sustainability of its schemes. NSSA encourages pensioners to utilise alternative means to access their pensions such as mobile money and bank cards due to the lockdown brought about by COVID-19.”

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