Updated post 22 April 2024
The NSSA has released the following notice to employers communicating the ZiG insurable earnings ceiling. As per the notice, the insurable earnings ceiling is ZiG 5 010.83, effective 1 April 2024.
* At the time of this post, the NSSA website was not updated with the latest limits.
Original Post 3 April 2024
The maximum insurable earnings for NSSA pension contributions for the months of April 2024 to June 2024 is ZWL12 520 686 per month.
Please view the NSSA Schedule of Insurable Earning here.
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 April 2024 to June 2024
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.