HARARE – Economist and former MP Eddie Cross has raised serious concerns over the National Social Security Authority (NSSA), questioning the whereabouts of billions of dollars collected from employers over the past 25 years.
Speaking at a public forum in Harare, Cross criticised NSSA’s financial management, alleging significant discrepancies in its reported assets.
“If NSSA is worth $1.5 billion today after collecting $27 billion in the last 25 years from employers, where the hell has the rest of the money gone?” Cross asked, highlighting concerns over potential financial mismanagement, corruption, or misallocation of funds.
NSSA, Zimbabwe’s mandatory pension fund for private-sector employees, has long been scrutinised over allegations of poor investment decisions, corruption, and lack of transparency. Over the years, the institution has been implicated in multiple financial scandals, with top executives facing charges of fraud and abuse of office.
Cross’s remarks come amid growing frustration among pensioners who complain of meagre payouts that fall far below the rising cost of living. Many retirees, having contributed to the fund for decades, now struggle to make ends meet, leading to calls for a full forensic audit into NSSA’s financial dealings.
In response, NSSA officials defended the organisation’s financial position, claiming that assets have been invested in various projects, including real estate and equities. However, critics argue that these investments have not yielded adequate returns, further fuelling public scepticism.
Pressure is now mounting on the government to conduct an independent audit and implement reforms to restore confidence in NSSA’s financial management.
