The National Social Security Authority (NSSA) is set to launch a voluntary contributory scheme for the informal sector in the third quarter of this year while the health insurance scheme will also be unveiled during the course of the year.
The three schemes set to be launched will ignite hope among pensioners that the NSSA is living to its billing of providing safety nets to the country’s citizens.
With 94.5 percent of the active labour force operating in the informal sector, it is prudent for the NSSA to tap into the volumes presented by the informal sector hence the coming on board of a voluntary scheme for the informal sector.
Work is underway to come up with models to determine the funding levels required for contributions and benefits.
The national health insurance scheme is also being worked on though there is need for buy-in within the insurance sector.
Besides the three schemes, the NSSA is also restructuring its workforce as a way of reducing operational costs.
The funeral benefits enhancement payouts of up-to US$500 will be introduced next month which is also a plus to pensioners.
The NSSA has been under the spotlight owing to what has been perceived to be wrong investment decisions which has seen most of the shopping malls empty.