The Social Security Commission (SSC) has adjusted the wage ceilings for maternity, sick leave and death (MSD) benefits. This comes after the amendment of the Employment Compensation Act and Social Security Act as of 1 March.
The current maximum basic wage ceiling will increase from N$9 000 to N$11 000, while the minimum wage ceiling will rise from N$300 to N$500 per month.
The contribution rate remains unchanged at 1.8% of employees’ basic wages, shared equally between employers and employees.
SSC chief executive Milka Mungunda last year reported that the commission was looking into increasing membership fees to ensure the fund is sustainable.
A key focus of the increased contributions will be improving maternity benefits.
Currently, women earning more than N$15 000 per month are capped at a maximum benefit of N$15 000 during maternity leave.
She also said the SSC plans to increase the funeral benefit, which is currently N$4 500.
Mungunda said the MSD Fund in 2024 reported payouts of N$9.3 million for death claims, N$53.9 million for disability and retirement, N$205 million for maternity, and N$23.9 million for sick leave claims.
Other SSC-administered funds have also supported members, including N$37.7 million in funeral benefits for 8 000 claims and N$1.2 million in bursaries through the Development Fund.
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