NSSA raises minimum pensions by 30pc

Freeman Razemba-Senior Reporter

THE National Social Security Authority has increased monthly pension payouts across its mandatory social protection schemes by nearly 30 percent.

The upward adjustment is aimed at expanding income support and strengthening social safety nets for beneficiaries.

Under the primary Pension and Other Benefits Scheme, which supports about 262 000 pensioners and surviving dependants, monthly minimum payouts will rise to US$90 from US$70.

Monthly disbursements under the Accident Prevention and Workers’ Compensation Scheme, which serves about 8 000 beneficiaries recovering from workplace injuries or occupational disabilities, will increase to US$130 from US$100.

The upward revision of beneficiary payouts follows a 2025 statutory actuarial valuation that confirmed the financial health and long-term sustainability of the social security schemes. According to the evaluation, both schemes will remain fully operational and financially secure.

Public Service, Labour and Social Welfare Minister Edgar Moyo announced the increases at a Press conference yesterday.

“I have the pleasure and honour of addressing you today as we reflect on two important developments in Government’s ongoing efforts to strengthen social protection, enhance the welfare of workers and beneficiaries, and build a resilient economy in which every citizen has the opportunity to live and work with dignity.

“In furtherance of this commitment, Government has approved an upward review of minimum pension benefits administered by the National Social Security Authority, alongside the enactment of the Occupational Safety and Health Act No. 7 of 2026.

“These developments are firmly anchored in the aspirations of Vision 2030, which seeks to transform Zimbabwe into a prosperous and empowered upper-middle-income society by 2030. They also advance the national development priorities under the National Development Strategy 2, particularly those relating to social protection, human capital development, decent work and inclusive economic growth,” he said.

Minister Moyo said Government had mandated NSSA to administer social security schemes that provide protection to members and their dependants.

“In fulfilment of this mandate, the Authority currently manages two schemes, namely the Pension and Other Benefits Scheme and the Accident Prevention and Workers’ Compensation Scheme. Following a statutory actuarial valuation which confirmed the financial health of the fund, Government approved an upward review of minimum NSSA pension benefits.”

After outlining the new minimum payouts, he said: “The revised benefits will be reflected in the November payroll, scheduled for November 13, 2026, and will be backdated to October 2026. These adjustments demonstrate Government’s recognition of the contributions made by workers throughout their productive lives and the importance of ensuring that retirement and social security benefits provide meaningful support and uphold human dignity.”

Government remained mindful, however, that benefit adequacy must be underpinned by the long-term sustainability of the social security system.

Minister Moyo said NSSA, therefore, had an important responsibility to ensure the prudent management and investment of contributors’ funds, preserve their value and generate sustainable returns.

“This responsibility must be discharged in a manner that strengthens the Authority’s capacity to meet its obligations to current and future beneficiaries while contributing to national economic development in line with Vision 2030 and NDS2,” he said.

The developments announced reaffirm Government’s commitment to placing people at the centre of national development.

The Minister said Government recognised that the strength of the economy was ultimately reflected in the welfare of its people, in the security of those who have retired after years of service, and in the protection afforded to those who continue to drive the country’s productive sectors.

“As we advance towards Vision 2030, our responsibility is to build a social security system that is responsive, sustainable and inclusive, while ensuring that every workplace upholds the dignity, safety and well-being of its workers.

“Government will continue to provide the policy direction and institutional support necessary to translate these commitments into tangible outcomes. We call upon NSSA, organised labour, organised business and all our social partners to play their respective roles in advancing these reforms.”

Established under the NSSA Act and operating under the oversight of the Ministry of Public Service, Labour and Social Welfare, NSSA forms the backbone of Zimbabwe’s national social security framework. The institution safeguards formal sector workers and their dependants against financial loss arising from retirement, invalidity, work-related injuries or death.

To fulfil this mandate, NSSA manages two core statutory funds.

Introduced in October 1994, the Pension and Other Benefits Scheme provides long-term income replacement through retirement pensions, invalidity allowances, survivor benefits and funeral grants. It is financed through a statutory monthly contribution of 9 percent of insurable earnings, split equally between employers (4,5 percent) and employees (4,5 percent).

The Accident Prevention and Workers’ Compensation Scheme, established in January 1990 to replace an earlier scheme, is a fully employer-funded programme that protects workers disabled in occupational accidents while enforcing workplace health and safety standards nationwide.

To sustain meaningful benefit payouts over the long term and preserve institutional capital against inflation, NSSA has aggressively expanded its role as one of Zimbabwe’s leading institutional investors.

Source: NSSA raises minimum pensions by 30pc – herald

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