By Admire Chitsungo
Government has increased minimum retirement pensions by 28,57 percent, from US$70 to US$90, while workers’ compensation pensions for injured employees have gone up by 30 percent, from US$100 to US$130.
The adjustments, announced by Public Service, Labour and Social Welfare Minister Edgar Moyo in Harare on Tuesday, will benefit approximately 8 000 injured workers and take effect in the 13 November payroll, with the increases backdated to October 2026.
Minister Moyo said the increases were intended to improve the welfare of pensioners and injured workers amid prevailing economic pressures.
He said the review recognised the contributions workers had made during their productive years and the need to ensure that social security benefits provided meaningful financial support.
“These adjustments demonstrate government’s recognition of the contributions made by workers throughout their productive lives and the importance of ensuring that retirement and social security benefits provide meaningful support and uphold human dignity,” he said.
The minister said the review followed a statutory actuarial valuation which confirmed the financial position of the National Social Security Authority (NSSA) fund.
He also announced the Occupational Safety and Health Act No. 7 of 2026, which seeks to strengthen workplace safety through improved prevention, compliance and accountability.
NSSA general manager Dr Charles Shava attributed the pension increases to improved investment performance and economic stability, which he said had strengthened the authority’s capacity to provide better benefits.
He said low inflation had helped stabilise employer and employee contributions, while improved investment returns had boosted the authority’s financial position.
“The fact that we have been able to increase the pensions by around 30 percent speaks very much about the stability of the economy. Inflation is low and therefore it is also translating to stable contributions from employers and employees,” Dr Shava said.
He revealed that NSSA’s investment income had risen from US$4 million in 2022 to US$40 million currently, while its balance sheet had grown from approximately US$300 million to nearly US$1,3 billion.
“Our investment portfolio has been growing very rapidly,” he said.
The pension increases represent an upward adjustment in minimum social security benefits for retirees and injured workers, although the actual impact on beneficiaries will depend on their respective pension entitlements.
