Remuneration
The Board ensures that the Fund remunerates fairly, responsibly, and transparently to promote the achievement of strategic objectives and positive outcomes over the short, medium, and long term.
Outcomes supported
In support of this principle, NSSF has the following in place:
A Board-approved Remuneration Policy sets out a Total Rewards model with five objectives (Attract, Motivate, Recognise, Wellness, Retain) and four principles (Competitive, Simple, Fair, Energised).
A performance-based increment matrix links pay progression to individual performance ratings; poor performance (C/D ratings) attracts 0.0% increment and 0.0% bonus.
MD and Deputy MD remuneration is independently approved by the Minister of Gender, Labour and Social Development.
SACA conducts annual salary reviews and benchmarking surveys.
Area for future focus
Continue embedding ESG measures in balanced scorecard KPIs. Read more about our SACA Report. Read more about our Remuneration Report.