Retirees to smile with PSSSF lumpsum increase

By Guardian Correspondent , The Guardian
Published at 11:01 PM Jun 13 2024
Photo: File
General Director of PSSSF Abdul-razak Badru

Retirees and members of the Public Service Social Security Fund (PSSSF) now have every reason to smile after the government increased the level of their lump sum benefits.

The grace for PSSSF members was announced today in Dodoma by the Minister of Finance, Dr Mwigulu Nchemba, while presenting the Central Government Budget.

PSSSF pensioners will receive 40 percent instead of the current 33 percent that was complained about by members and retirees of the fund for a long time.

Dr Mwigulu said today in parliament that President Samia Suluhu Hassan has heard the cry of pensioners and members of the fund and now they will be increased up to 40 percent.

"The issue of increasing the computation method of retirement benefits has been a long-term cry for retirees and members of PSSSF, President Samia government is very responsive, so she has increased the computation methods from 33 percent to 40 percent," said Dr Mwigulu

One of the members of PSSSF, Rashid Hoza, who spoke after the increase in the computation method, thanked the government for hearing the cry of the members of the fund.

He congratulated President Samia Suluhu Hassan for her decision to increase the level of benefits for members and retirees of the fund as it will help them start a new life with enough money to start life after retirement.

"I congratulate President Samia for being responsive to the members of this fund, we said a lot and in fact, mother heard our cry, we are very grateful to the prospective retirees," he said.

Another member of PSSSF, Anna Mwombeki said the increase is a great comfort for retirees and members as she praised the government for being responsive.

He said that many retirees have a difficult time when they retire due to failure to start a business, so the increase in the new computation method will give these retirees relief in life.

"We congratulate the government and the PSSSF, which in recent years have actually improved its services, almost all of them are digital and its retiring members have been getting their benefits instantly after their retirement," he said.