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Wed, 23 Oct 2019 14:56 - Updated Wed, 23 Oct 2019 14:55

INSS spends Akz 19 billion on pensions

Luanda - At least 19 billion Kwanzas is spent on monthly basis across the country to pay 1.8 million insured persons, out of about 130,000 taxpayers from public and private companies, National Institute of Social Security (INSS) has said.

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State secretary for labour and social security Manuel de Jesus Moreira (R.), ANGOP CEO, Jossué Isaías

Photo: Alberto Julião

The data were releasing by the State Secretary for Labour and Social Security, Manuel de Jesus Moreira, on Tuesday in Luanda.

The official was speaking the press at the end of a lecture on "Reform and its taboos", ahead of the 44 years of existence of the Angola News Agency (Angop) on 30 October.

Manuel de Jesus Moreira said the biggest benefit is the old-age retirement pension, with about 138,000 pensioners.

About 14,105 pensions are canceled and 32,112 suspended for lack of proof of life.
According to him, the pensioner must conduct the proof of life every year and in the month of his birthday.

Should he fails to do so for three consecutive years he risks to lose the right to pension.

In 2018, the INSS spent 13 billion Kwanzas per month to pay 142,548 pensioners nationwide.

Reform, according to the official, should not be seen as a taboo, but as the end of a work process, struggle and a lot of dedication.

In Angola, more than 142,548 workers, including 35,529 women, benefit from this constitutional right, which sets the age of 60 and 35 years of effective service as conditions for their enjoyment.

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