Talon reviews the pensions and annuities provided to CNSS policyholders

2023-09-14 00:49:20

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What is it about :The government decided in the Council of Ministers on Wednesday, September 13, 2023, to revalue the pensions and annuities provided to policyholders of the National Social Security Fund (CNSS). In view of the realities of the cost of living and to avoid a significant drop in the purchasing power of these retirees and annuitants, the Council decided in favor of the adoption of decrees for an increase in pensions in proportions between 30 % and 1% depending on the different tranches.

What are the revised installments: Referring to the law establishing the social security code in the Republic of Benin, the Council recorded the revaluation of pensions between 24,000 FCFA and 25,900 FCFA, to bring them to 31,200 FCFA. As for pensions between 26,000 FCFA and 75,000 FCFA, they will experience an increase of 20% while those ranging from 75,100 FCFA to 85,700 FCFA will be increased to 90,000 FCFA. Regarding pensions in the range of 85,800 FCFA to 150,000 FCFA, they will be increased by 5%, those ranging from 150,100 FCFA to 152,900 FCFA will be increased to 157,500 FCFA. Concerning pensions in the range of 153,000 FCFA to 250,000 FCFA, they will be increased by 3%; those ranging from 250,100 FCFA to 254,900 FCFA will be increased to 257,500 FCFA. Finally, those greater than or equal to 255,000 FCFA will benefit from an increase of 1%. “Regarding annuities, which are granted on a temporary basis, they are subject to a revaluation at the single rate of 5.3% rather than ‘a rate degraded by tranche as for pensions. This, in order to remain in the same spirit of revaluation as at the level of pensions and not to create social injustice”, we can read from the report of the council of ministers.

Between the lines :According to the council’s minutes, these increases take effect retroactively from January 1, 2023. The government takes the opportunity to urge new employers in the private sector who have not yet done so, to increase the salaries of their workers within the framework of the company’s internal social dialogue.