{"id":35066,"date":"2021-02-18T20:08:29","date_gmt":"2021-02-18T18:08:29","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=35066"},"modified":"2021-02-18T18:18:41","modified_gmt":"2021-02-18T16:18:41","slug":"civil-servants-to-contribute-2-5-of-salaries-to-savings-facility","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/civil-servants-to-contribute-2-5-of-salaries-to-savings-facility","title":{"rendered":"Civil Servants To Contribute 2.5% Of Salaries To Savings Facility"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>The Public Service Commission (PSC) has introduced a 2.5% deduction from all members of the public service with the funds set to be directed towards a savings and loan facility.<\/p>\n

The facility, known as Government Employee Mutual Savings (GEMS) Fund, was launched last week with the government saying the Fund would \u201ccushion\u2026 workers and in preparation for a rainy day which can come for any one of us at an unexpected time\u201d.<\/p>\n

The 2.5% deduction applies to all civil servants and those who are not interested can opt out by applying to their head of Ministry.<\/p>\n

A nominal lending rate of 10 per cent per annum has been set, with lending thresholds set to range from 10 to 15% per annum depending on the actual amount applied for and the desired repayment period.<\/p>\n

A circular to government employees released on Tuesday read:<\/p>\n

All members of the Public Service regardless of their category are going to receive a 2.5% deduction on their salary during the month of February 2021 and subsequently every month as admission to membership.<\/p>\n

After 3 months accrual of contribution, members desiring to access short term to medium term loans will apply through their Head Ministry.<\/p>\n

Members who do not wish to join the scheme are free to advise the head of ministry in writing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. The Public Service Commission (PSC) has introduced a 2.5% deduction from all members of the public service with the funds set to be directed towards a savings and loan facility. The facility, known as Government Employee Mutual Savings (GEMS) Fund, was launched last week with the government saying the Fund would \u201ccushion\u2026 […]<\/p>\n","protected":false},"author":84,"featured_media":35065,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,35,12,15],"tags":[1493,2189,258,2952,3152,3153,2954,19],"class_list":{"0":"post-35066","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-homepage-english","9":"category-policy","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-civil-servants","14":"tag-gems","15":"tag-gems-fund","16":"tag-government-employee-mutual-savings-gems-fund","17":"tag-psc","18":"tag-zimbabwe"},"yoast_head":"\nCivil Servants To Contribute 2.5% Of Salaries To Savings Facility - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Public Service Commission (PSC) has introduced a 2.5% deduction from all members of the public service with the fund ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-2-5-of-salaries-to-savings-facility\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Civil Servants To Contribute 2.5% Of Salaries To Savings Facility\" \/>\n<meta property=\"og:description\" content=\"The Public Service Commission (PSC) has introduced a 2.5% deduction from all members of the public service with the fund ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-2-5-of-salaries-to-savings-facility\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-18T18:08:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-18T16:18:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e933cdabd4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-2-5-of-salaries-to-savings-facility\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-2-5-of-salaries-to-savings-facility\",\"name\":\"Civil Servants To Contribute 2.5% Of Salaries To Savings Facility - 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