SSFR pays out Rwf1.5b in benefits

24,440 people received Rwf1.46 billion as pension and 1,535 employees were paid Rwf38.4 million for occupational risks The Social Security Fund of Rwanda (SSFR) has paid a tune of Rwf1.5 billion in benefits to cover pension and occupational hazards during the first quarter of this year.

Wednesday, May 13, 2009
The man behind it all: SSFR Managing Director, Henry Gaperi. (File Photo)

24,440 people received Rwf1.46 billion as pension and 1,535 employees were paid Rwf38.4 million for occupational risks

The Social Security Fund of Rwanda (SSFR) has paid a tune of Rwf1.5 billion in benefits to cover pension and occupational hazards during the first quarter of this year.

The payments represented a 66.6 % increase compared to other reporting periods, which was attributed to the computerisation of declarations that were missing in the database.

"The computerisation of these declarations facilitated benefits processing,” the SSFR quarterly report reads in part.

The amount paid (Rwf1.5 billion) catered for 25,975 beneficiaries; 24,440 people received Rwf1.46 billion as pension and 1,535 employees were paid Rwf38.4 million for occupational risks.

The report also indicated that the number of employees also increased from 258,457 in 2008 to 271,505 as of the first quarter— representing an increase of 5 percent.

This follows an increase in the number of employers from 6,676 in 2008 to 7,290 employers as of the first quarter, representing an increase of 9.2 percent.

According to statistics from Rwanda National Institute of Statistics (NISR), the salaried population is about 315,202 of the estimated 9 million people. 

However the report says, "Considering the demographic statistics, the membership status represents a compliance gap of 14.2 percent.” 

The Fund has introduced measures to narrow down this gap and extend coverage to informal and rural sectors. However, the informal sector employers register on a voluntary basis.

The pension body management says that the draft document, which includes the experience of other countries in social protection of the rural and informal sector workers, has been finalised and ready for debate in the parliament.

The pension body is also planning to introduce new products such as maternity insurance and maternity insurance law.

Meanwhile, the fund is considering measures against employers who fail to remit their workers’ social benefits.

Penalties include a fine of up to 36 percent of the arrears or size of the company property.

The fine accumulates up to 36 percent depending on the period of default, with a monthly interest rate of the total amount due is 3 percent.

Ends