BY HARRIET CHIKANDIWA
THE National Social Security Authority (NSSA) is exploring ways to increase pension stipends, Public Service minister Paul Mavima told Parliament on Wednesday.
Some of the country’s pensioners are paid paltry stipends ranging from as little as $320 to $1 000 per month.
“NSSA pension entitlements are calculated based on the contribution period and one’s salary at the time of retirement, subject to the prevailing insurable earning ceiling,” Mavima said.
“The existence of the ceiling curtails the levels of benefits. However, measures have been taken to ensure that contribution rates are self-adjusting in line with the poverty datum line. This will ensure that contributing members will receive a more meaningful pension at a time of retirement.”