Following the promulgation of Statutory Instrument (SI) 169 of 2021, the National Social Security Authority (NSSA) advises all employers and stakeholders of the new contribution levels for NSSA effective June 2021.
The new maximum amount of monthly insurable earnings shall be payable by 75% of the previous month’s Total Consumption Poverty Line (TCPL) for an average of five persons per household.
The national TCPL figures are published by Zimbabwe National Statistics Agency (ZIMSTAT). The NSSA will publish the monthly insurance earnings applicable for each month by the first of each month on the NSSA website.
The insurable earning ceiling for the month of June 2021 is therefore ZWL 21641.25.
Click here for the official government gazette.
Click here for the official public notice.
Click here for the TCPL rate as issued by ZIMSTAT.
NSSA Ceiling Increase Updates
The NSSA ceiling limit has increased based on the TCPL rate as issued by ZIMSTAT effective 1 June 2021.
|NSSA Annual Ceiling Amount ZWL (January-May 2021)||NSSA Annual Ceiling Amount ZWL (June 2021)|
|ZWL 60000.00||ZWL 259695.00|
|NSSA Monthly Ceiling Amount ZWL (January-May 2021)||NSSA Monthly Ceiling Amount ZWL (June 2021)|
|ZWL 5000.00||ZWL 21641.25|
|NSSA Annual Ceiling Amount USD (January-May 2021)||NSSA Annual Ceiling Amount USD (June 2021)|
|USD 6000.00||USD 25969.50|
|NSSA Monthly Ceiling Amount USD (January-May 2021)||NSSA Monthly Ceiling Amount USD (June 2021)|
|USD 500.00||USD 2164.12|
Impact of NSSA Ceiling Limit Increase on payroll:
- These changes have been implemented on the system effective 01 June 2021
- Customer payrolls wanting to use the interbank rate, for employees being remunerated in US Dollar currency, can activate the ‘NSSA Interbank Rate’ component. This component is made available to Zimbabwe USD entities only.
- The ZIMSTAT body will be monitored on a monthly basis to review any national rate changes, which will be implemented accordingly.
- No other statutory changes have been announced.
Should you have any questions regarding this change, please feel free to visit our Support page for more ways to get in touch, or email us at [email protected].
The PaySpace Team