Inside The Public Service Superannuation Scheme (PSSS) Pension Plan That Will See Teachers Part With 2.5% Of Their Salaries.
Teachers To Contribute 2.5% Of Their Salaries To Phase Two Of The New Pension Scheme In January 2022.
All teachers and public servants are expected to part with a further 2.5% of their salaries following the implementation of the second phase of the new Public Service Superannuation Scheme (PSSS) pension plan introduced by tye government in January 2021.
After the implementation of the first phase of the PSSS pension scheme saw teachers contribute 2.5 percent of their basic salaries, the amount recovered will be increased to 5.0 percent as phase two of the three phase rollout which will be fully effected in 2023 to read 7.5 percent.
The truth to all teachers and public servants is that the government will also be contributing 15 percent to the scheme to make it complete.
To teachers, their basic salaries will take the following shape after the implementation of phase two of the PSSS scheme in January 2021.
The scheme has been introduced into the teachers payslips as the Provident Fund.