SOCIAL SECURITY REFORM

SPSSR > FAQs > 5. What will the NSSF look like?

Question

5. What will the NSSF look like?  

Answer

The NSSF will be run as a Pay-As-You-Go Defined Benefit fund with a 25 per cent reserve requirement. Retirement benefits will be determined by duration of a worker's contributions, wages over the course of their career, and a guaranteed accrual rate. Risk benefits will also be determined a pre-set formula based on a worker's final salary, but will not be dependent on a contributions.  
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Created at 3/1/2011 3:48 PM  by Sharvania Pillai 
Last modified at 3/1/2011 3:48 PM  by Sharvania Pillai 




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