PUBLIC SERVICE PENSIONERS RECEIVE 5% INCREMENT TO ANNUITIES

Written by Fundizwi Sikhondze

Former public service employees who are now retirees under the Public Service Pension Fund (PSPF) were awarded an increment of 5% on their monthly pension annuities. The increment is effected in July 2024 and backdated to April 2024.

The PSPF is the biggest pension fund in Eswatini as it boasts around E31.2billion. It caters for the needs of around 25 000 beneficiaries mad up of 10 000 principal members or beneficiaries, around 15 000 spousal as well as minors beneficiaries. It boasts of just above forty 40 000 active members who are still in service and therefore still contributing to the fund.

On another note it was reported by the local daily Time of eSwatini (13-0724) that members of the Swaziland Public Service Pensioners Association (SPSPA) representing principal members to the fund has continued with their quest to reverse the transition of the PSPF from a category B public service organisation or parastatal to a category A parastatal. They have vowed not to leave any stone unturned including working with the Public Service Unions (PSUs) to get the decision turned.

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