What is the function of NSSA?

What is the function of NSSA?

The Act established the National Social Security Authority(NSSA) whose functions are to: administer every scheme and fund established in terms of this Act. advise the minister on all matters concerning the operations of schemes and on matters relating to social security in general.

How is NSSA calculated?

In calculating retirement benefits, NSSA uses a formula that takes into account the person’s contribution period and insurable earnings at retirement. After 19 years, which is the most anyone retiring now could have contributed for, since the scheme has only been going for 19 years, it is just above 25 percent.

How does NSSA help the employee?

The scheme provides financial relief to employees and their families when an employee is injured or killed in a work related accident or suffers from a work related disease. Creating an awareness of and promoting safety and health at all places of work.

How much is NSSA contribution?

It is the employer’s obligation to ensure that contributions are deducted and paid to NSSA. The contribution rate is as follows: 4.5% of the insurable earnings (employee) 4.5% from the employer.

Is NSSA a parastatal?

It is there to provide social safety nets to labour. Therefore, NSSA is a parastatal under the Ministry of Public Service,” Matorera said. NSSA’s portfolio has investments which span across the banking, insurance, hospitality and property sectors.

Who designed NSSA building?

NSSA tasked Pantic Architects to provide the architectural design and supervise the construction of the project. The design brief required that local building materials and labour should be prioritized, while considering long term maintenance and ease of use.

How do I pay NSSA?

How do I pay the contributions /premiums

1. Payment is either cash, electronic transfer RTGS, mobile money or other RBZ authorized medium.
2. If you pay by electronic transfer you should send a copy of the RTGS,P4 and P4A forms to a NSSA office near you.

How do I submit NSSA return?

All employers with outstanding employee contribution returns (Form P4) are required to file their returns on the NSSA Self Service Portal URL https://selfservice.nssa.org.zw for the period January 2017 to date, by 31 August 2021.

Who receives a worker compensation from NSSA?

Accident Prevention and Workers Compensation Scheme (APWC) All workers formally employed in a profession, trade or occupation who are above the age of 16. Workers who are exempted are: Civil servants.

Who designed NSSA building in Zimbabwe?

Young Bamu Jennings (Pvt) Ltd, with Philip Bamu as Managing Director, were the civil and structural design engineers for the project.

How much is Zimbabwe pension?

According to Mywage.org, an organisation that collects and compares labour market information, pensions in Zimbabwe are tiny, ranging from $10 to $100 per month.

How do I register a company with the NSSA?

How does the employer register?

1. Registration to the schemes is compulsory.
2. All employers must register within 30 days of becoming an employer, by completing employer registration form P2 and ensure that employees complete employee registration form P3.
3. Attach copy of certificate of incorporation.