NSSA blitz on companies

via NSSA blitz on companies – Southern Eye 19 January 2014

THE National Social Security Authority (NSSA) has launched a blitz on companies over non-remittance of pensions and other benefits.

In a statement NSSA, said with effect from February 1 to March 31 this year it would be carrying out door-to-door business inspections to verify company compliance in remitting contributions for the year ended December 31 2013.

According to NSSA, this would be done in accordance with the National Pensions and Other Benefits Scheme (SI393/93) and Accident Prevention and Workers’ Compensation Insurance Fund.

“Clients are strongly urged to ensure that their contributions and premiums are up to date,” NSSA said in a statement.

“Failure to pay contributions and premiums by the 10th of each month does not only attract 50% surcharges and penalties, but it may also attract criminal sanctions.”

The social security authority said as per statutory requirement all premiums and contributions are remitted to the authority by the 10th of each and every month.

In the event the that clients are in arrears NSSA said they should contact the authority for payment arrangement by January 31 and if such arrangements are not made within that period no favourable considerations would be made in the application of surcharges and penalties.

Most companies especially in Bulawayo, are in arrears as they are battling to stay afloat and finance their operations largely due to shortage of working capital, antiquated machinery and erratic power supplies, among a plethora of other challenges.

A number of companies had their properties attached in the past years over non-compliance of remitting NSSA contributions.

Close to 100 companies shut down in 2012 and more are expected to close this year as the harsh economic conditions continue to bite.

Capacity utilisation plunged to 39,6% last year as industry continues on the doldrums and the government has so far failed to come up with measures to restore confidence in the economy.

Business lobby groups like the Affirmative Action Group have for years been lobbying NSSA, among other authorities, to provide a moratorium for distressed companies to allow them to recover.

 

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4 comments on “NSSA blitz on companies
  1. Sekuru Mapenga says:

    NSSA is too busy taking money from the workers and too lazy to pay out the benefits.

  2. Zombi says:

    It’s a pity for us small business players. We appreciate the need to pay tax. But when you look at our governments priorities and what they spend our tax monies on; one really hates the idea of paying those taxes (expensive and unnecessary trips with high per diem, oppression of the people, huge salaries for state parastatals – some of them more than what my companies). What’s worse, is that in this time, many (big and small) companies are not making so much money. The economy is depressed, some sectors are really struggling. Just look at the delistings on the ZSE.

  3. Mixed Race says:

    NSSA is just day dreaming because there is nothing to collect from bankrupt companies.They must realise that we are not in a normal operating situation but a very unique situation.Are you going to sue a block company? What will you get from that costly exercise? You spent most of the contributions from companies to buy the latest cars for management staff,so you must sell those cars and reimburse money to NSSA account.You stole the people’s money for self joy,now its time to return it.

  4. tophaevy says:

    My friend, be careful, for this Nassa monster will not hesitate to send you to prison especially if you are a small business operator like me who is the principal officer of my company. I have witnessed first hand how they operate, they are bad, really bad. The best thing is never to ever register with them for they will be the albatross around your neck. Just avoid being a contributor to their selfish, unjust and oppressive cause.

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