NEW: Once-off grocery allowance for pensioners

14 Jun, 2022 - 15:06 0 Views
NEW: Once-off grocery allowance for pensioners

The Sunday Mail

Online Reporter 

THE National Social Security Authority (NSSA) will this month pay all its beneficiaries a once-off grocery allowance of $10 000 to cushion them from the obtaining inflationary pressures. 

In a statement on Tuesday, NSSA general manager, Mr Arthur Manase, said the authority will also award beneficiaries a cushioning allowance equivalent to one month’s pension pay-out. 

The once-off payments would be staggered within the month to manage cash flows. 

“All NSSA beneficiaries can look forward to a once-off grocery allowance of $10 000 this month,” said Mr Manase. 

“In addition, we will be awarding them a cushioning allowance equivalent to one month’s pension, while we are going through the approval process to adjust pension levels accordingly.” 

NSSA, Mr Manase said, is facing a lot of pressure to assist its pensioners and beneficiaries as it is virtually the only source of pensions for most retirees after most private schemes closed down. 

Currently, the NSSA minimum retirement pension is pegged at US$70 payable in local currency at the official exchange rate, while the minimum pension for private schemes as stipulated by the Insurance and Pensions Commission is $3 000. 

Share This:

Survey


We value your opinion! Take a moment to complete our survey

This will close in 20 seconds