PRESS RELEASE: Social Security Commission Records Growth in Benefit Pay-Outs

The Social Security Commission (SSC) has proudly announced results for the first four months of its 2013/2014 Financial Year that started in March this year. During this period, the total benefits paid out reached an amount of N$60.17 million compared to N$41.8 million last year for the same period. The total Maternity, Sick leave and Death (MSD) benefits amounted to N$54.5 million while compensation, medical and pensions made up N$5.6 million. Last year during the same time these amounts were N$37.9 million and N$3.8 million respectively.

Maternity leave beneficiaries received the biggest amount, about N$41.6 million, while sick leave claims increased by 61% from N$3.5 to N$5.7 million. Death benefits also increased by 26% and retirement by 46% from last year.

Mr Rino Muranda (pictured above), head of corporate communications of the SSC expressed his delight with the year on year growth and said that this was indicative of the growth of the Social Security Commission and its customer base. “We are happy that the numbers of claims have increased by 33% year on year for MSD benefits and 44% for the ECF benefits. This means that our people are benefitting from the SSC and are making use of it, thereby enhancing and supporting their lives. At the same time it also means, that the SSC has grown its client base as there were 45 363 employee registrations while only 2742 were deregistered during the period under review. We belief that SSC funds will continue to grow and prosper as this remains beneficial to all working Namibians and their dependants.”

The Khomas region has the most registered SSC members with a total of 277,470 at the end of June 2013, followed by Karas with 59 259 in second place and Otjozondjupa (26 779) in third place.

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