News FlashesApril 12, 20221

CRS News Flash 08 April 2022 – ZIMBABWE – NSSA Insurable Earnings Ceiling

APRIL 2022 – ZIMBABWE
NSSA INSURABLE EARNINGS CEILING
It is important that employers note the following:

Pension & Other Benefits Scheme (POBS) contributions
The National Social Security Authority (NSSA) has published the new maximum amount of monthly insurable earnings for April, May, and June 2022.

The new maximum amount of monthly insurable earnings in respect of which contributions are payable shall be 75% (seventy five per cent) of the previous month’s total consumption poverty line (TCPL).

Kindly note that the POBS maximum insurable ceiling will be reviewed on a quarterly basis from here on.

This month is the first time the contribution ceiling will be the same for 3 consecutive months. Previously, the ceiling changed on a monthly basis.

For April 2022, May 2022 and June 2022, the insurable earnings ceiling is ZWL$ 159,530.00
For both employer and employee, the maximum deduction changed from ZWL$ 1,543.10 (4.5% x 34,291.00) to ZWL$ 7,178.85 (4.5% x 159,530.00).

To view the insurable earnings banner on the NSSA website, follow the link.

 

 

Contact our legislation team at info@crs.co.za if you require any additional information. 

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