The maximum insurable earnings for NSSA pension contributions for the month of January 2023 to March 2023 is ZWL500 966 per month.
Please view the NSSA Notice below for more details:
Following the promulgation of SI 64 of 2022, the POBS maximum insurable earnings will now be reviewed on a quarterly basis. The new formula for calculating the basic insurable salary ceiling is based on the previous 3 months' average Total Consumption Poverty Line for a family of 5, multiplied by a factor of 3.5.
Note that the same ceiling will apply for the months of January 2023 to March 2023.
Visit https://www.nssa.org.zw/ for more information.
How do I apply these changes to my payroll?
The NSSA ceiling requires manual changes to be made to your payroll. You may refer to this knowledgebase article to assist you with making the changes on the payroll. Note that this is a guideline and you should reach out to your Business Partner for further assistance.