SSC increases benefits pay-outs
17 Mar 2016 13:50pm
WINDHOEK, 17 MAR (NAMPA) - The Social Security Commission (SSC) has increased its maternity benefit from N.dollars 10 500 to N. dollars 13 000 for a maximum week of 12 weeks, effective from 01 January 2016.
Making the announcement in the capital during a media conference on Wednesday, SSC Board Chairperson Johannes !Gawaxab said this increase, which is one of many, will not require employers to pay more for their employees benefits this year.
The sick leave benefit will also be increased from N.dollars 7 875 to a maximum of N.dollars 9 750 for the first 12 months and thereafter will be reduced to N.dollars 8 450 (from N.dollars 6 825) for the next 12 months.
The death benefit also increased from the current N.dollars 5 515 to N. dollars 8 475. Similarly, a single lump of N.dollars 8 475 will be paid upon retirement and permanent disability.
He said the commission, by the end of February 2016, paid out N.dollars 157.4 million for maternity benefits, which is expected to increase to about N. dollars 180.3 million by the end of February 2017.
The total amount paid out on sick leave benefits as at the end of February 2016 was N.dollars 19.9 million, which is expected to increase to N.dollars 23.8 million as at end of February 2017.
This translates to an increase of 19.6 per cent.
The Board Chairperson further said the total amount paid under the death, disability and retirement benefits was N.dollars 23.7 million as at end of February 2016 which is expected to increase to N.dollars 33.3 million at the end of February 2017.