Over 477,000 Beneficiaries Receive K10 Billion Under NAPSA Partial Withdrawal Scheme
The National Pension Scheme Authority (NAPSA) has disbursed K10 billion in pre-retirement benefits to 477,040 beneficiaries since 2023, according to Ministry of Labour and Social Security Permanent Secretary, Zechariah Luhanga.
Speaking at the launch of the Zambia Institute of Human Resource Management (ZIHRM) Savings and Credit Cooperative Society Limited, Mr. Luhanga emphasized the government’s commitment to refining pension schemes.
He announced that a Bill, aimed at restructuring pension funds, has been approved in principle by Cabinet and will soon be tabled before Parliament.
The newly launched ZIHRM cooperative society is expected to encourage savings and entrepreneurship among members, aligning with the New Dawn Government’s agenda of promoting investment opportunities for citizens.
Mr. Luhanga also urged ZIHRM President, Kelvin Shamizhinga, to prioritize the empowerment of women through the initiative.
Additionally, the government is considering reopening the Local Authorities Superannuation Fund (LASF) and Public Service Pensions Fund (PSPF) as occupational schemes for public workers recruited after 2000. These schemes will complement NAPSA while ensuring broader financial security for public service employees.
Mr. Shamizhinga highlighted the importance of professionalism in the human resource sector and announced the establishment of a Benevolent Fund to provide funeral grants and logistical support for ZIHRM members.
