The NSSA is broke
March 28th, 2009
The NSSA (National Social Security Authority) is now demanding 4% contribution from both employee and employer of gross income.
There is no ceiling on contribution; regardless of what you earn, it is 4%. The NSSA is in breach of regulations as laid down by national commissioner of pension funds and cannot account for the funds contributed in the past.
The NSSA is broke.
It cannot even afford to pay its own staff. Its contributory demands are unaffordable by the PVT and public sector. It negatively contributes to export competitivity at time when the entire economy needs to maintain and improve local competitiveness, particularly considering the state of the global economy.
The reality is that 60 – 70% of all institutions in Zimbabwe have refused to make these contributions.
What little is left of the NSSA is headed for total collapse. Well done Zanu PF. They have stolen pension money; is this a breach of human rights?
March 29th, 2009 23:03
What goes round comes round. The many prayers and fasting by global citizens was not in vain. We shall watch wit awe as many other institutions fall apart and only then can the true daughters and sons of Zimbabwe pick up the pieces and build our beautiful country and heritage gain. Long live Zimbabwe!