NSSA reviews retirement grants

By Caroline Chiimba

The National Social Security Authority (Nssa) is reviewing its retirement grants through an exercise that is likely to benefit about 5 500 members.

According to Nssa’s communications representative, Constance Makoni, the authority is urging all beneficiaries to come forward and be assisted by the pay-as-you-go pension scheme for them to benefit from the review.

The retirement benefit is paid to qualifying contributors who have attained 60 years of age, for normal retirement, or 65 years, for late retirement, and are no longer employed upon retirement.

Contributors, who have attained the age of 55 and are no longer employed, are also eligible provided that during at least seven years of the last 10 years immediately prior to attaining the age of 55 they have been in arduous employment.

The benefit may be paid out in the form of a grant if the contributory period is more than 12 months but less than 120 months.

Statutorily, the retirement grant is claimed or should be submitted within five years after the date of retirement. Daily News.