Zimbabwe marks 45 years of independence this Friday, and citizens are reflecting on institutions that have shaped the nation since 1980. The National Social Security Authority stands among these important organizations, created to deliver social security after colonial rule ended.
NSSA began through legislation in 1989, filling a crucial gap. Before its creation, social security mainly served the white community, leaving most Black employees without protection after retirement. The authority operates two main programs: the Accident Prevention and Workers' Compensation Scheme, which was transferred to NSSA in 1990, and the Pension and Other Benefits Scheme, which was launched in 1994.
Many criticize NSSA for low pension payments, but this misunderstands its purpose. The authority never aimed to replace occupational pensions but instead provides a safety net. Despite having one of the lowest contribution rates in Africa at just 9 percent, NSSA outperforms many regional counterparts and most local occupational schemes.
NSSA invests widely across Zimbabwe, owning 111 properties, including shopping malls in Chipinge, Pomona, and Gwanda. Its investments represent over 10 percent of the Zimbabwe Stock Exchange's market value. The authority also partners in the 25MW Centragrid Solar Park, helping power homes with renewable energy.
The authority continues developing housing projects nationwide and works to create social security options for informal workers. As Zimbabwe celebrates independence, NSSA serves not just as a pension administrator but as a driver of national development and economic empowerment.
NSSA began through legislation in 1989, filling a crucial gap. Before its creation, social security mainly served the white community, leaving most Black employees without protection after retirement. The authority operates two main programs: the Accident Prevention and Workers' Compensation Scheme, which was transferred to NSSA in 1990, and the Pension and Other Benefits Scheme, which was launched in 1994.
Many criticize NSSA for low pension payments, but this misunderstands its purpose. The authority never aimed to replace occupational pensions but instead provides a safety net. Despite having one of the lowest contribution rates in Africa at just 9 percent, NSSA outperforms many regional counterparts and most local occupational schemes.
NSSA invests widely across Zimbabwe, owning 111 properties, including shopping malls in Chipinge, Pomona, and Gwanda. Its investments represent over 10 percent of the Zimbabwe Stock Exchange's market value. The authority also partners in the 25MW Centragrid Solar Park, helping power homes with renewable energy.
The authority continues developing housing projects nationwide and works to create social security options for informal workers. As Zimbabwe celebrates independence, NSSA serves not just as a pension administrator but as a driver of national development and economic empowerment.
