‘Do not over rely on NSSA pension scheme’

NATIONAL Social Security Authority (NSSA) director of social security Shepherd Muperi says people should not be overly reliant on the social security scheme as it constitutes a small amount of cumulative pension payouts.

Speaking during NSSA journalism mentorship programme in Harare last Friday, Muperi said there was a general misconception that NSSA should provide everything, adding that this was not the case since the social security scheme only accounted for 9%
of pension payouts, whereas the occupational pension scheme contributes 20%.

“The NSSA pension contribution rate of 9% (4,5% employee and 4,5% employer) is much lower than the average 20% contribution rate for occupational pension schemes,” Muperi said.

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