Zimbabwe NSSA Ceiling Increase

Zimbabwe New Gold-Backed Currency (ZiG)

The National Social Security Authority wishes to inform all employers of updates to the Self-Adjusting Framework for determining the monthly POBS maximum insurable earnings per employee.

According to Statutory Instrument 64 of 2022 gazetted on 01 April 2022, the monthly insurable earning ceiling is subject to a quarterly review. Consequently, we would like to note that the ceiling for the months of April, May and June (Q2) of 2024 is set at ZWL 12,520,686.00 per employee. The adjustment is effective from the April 2024 payroll which is due on 10 May 2024.

Click here to access the NSSA Public Notice.

NSSA Ceiling Increase Update 

The NSSA ceiling limit has increased based on the TCPL rate as issued by the NSSA effective 01 April 2024.

NSSA Annual Ceiling (April – June 2024) NSSA Monthly Ceiling (April – June 2024) NSSA Annual Ceiling (April – June 2024) NSSA Monthly Ceiling (April – June 2024)
ZWL 150 248 232.00 ZWL 12 520 686.00 USD 15 024 823.20 USD 1 252 068.60

Impact of the Zimbabwe NSSA Ceiling Increase on PaySpace

  • These changes have been implemented on the system effective 01 April 2024.
  • All Zimbabwe USD and local companies have been recalculated.
  • If employees have been remunerated in USD, update the ‘Interbank Rate’ note component, if necessary (Tax code IBR).

Should you have any questions regarding the Zimbabwe NSSA Ceiling Increase, please feel free to visit our Support page for more ways to get in touch, or email us at [email protected]

The PaySpace Team