By Sikhulile Dlamini
MBABANE – Good news for public pensioners as they will receive an increase in their monthly annuities.
This publication has established that the retirees will, as from tomorrow, receive a five percent increment in their Cost of Living Adjustments (COLA) reflected in their salaries.
The payouts will be backdated to April 1, 2024.
This adjustment follows an agreement between the Ministry of Public Service in consultation with the PSPF board of trustees.
According to a statement from PSPF, the increment will be effected on July 18, 2024 pension payroll.
Some pensioners expressed relief and gratitude for the additional funds, noting that the adjustment will help them manage various challenges at home as they are breadwinners, especially given the rising prices in shops.
Phumzile Pato, a pensioner from Siteki, shared her appreciation for the extra money but also mentioned a concern.
“There is a difference, but it’s not much since the money has been taxed. The cost of living is very high, but we acknowledge that the government in Eswatini is trying. We will have to manage with what we have,” she said.
Another pensioner from Manzini, Josephine Shabangu pleaded with the government to reduce the income tax for pensioners as that affects them a lot and end up not seeing a difference in the money they received.
Dominic Nxumalo, Secretary General of the Swaziland Public Service Pensioners Association (SPSPA) says they have received the official increment document from the fund.
“as pensioners it is never enough because our money goes to investments which generate returns. So we expect to receive more than what is given to active civil servants,” he said.
He said their expectation was between six and seven percent.
