Retirement age amendment bill tabled in parley

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Labour Minister Fackson Shamenda (right) and Zambia Congress of Trade Unions (ZCTU) General Secretary Roy Mwaba
Labour Minister Fackson Shamenda

GOVERNMENT yesterday presented four amendment bills to Parliament.

The four amendment bills are National Pensions Scheme, Local Authorities Superannuation Fund, Supplementary Appropriation (2013) and Excess Expenditure Appropriation (2012).

The National Pensions Scheme (Amendment) Bill seeks to increase the retirement age to 60 years and provide for early retirement at 55 years and late retirement at 65.

Deputy Speaker of National Assembly Mkhondo Lungu asked Minister of Labour and Social Security Fackson Shamenda to present the National Pensions Scheme Bill to amend the National Pensions Act.

Mr Shamenda said: “I intend to present the bill entitled the National Pensions Scheme amendment bill. The object of this bill is to amend the National Pensions Scheme Act so as to revise the retirement age. I thank you.”

Clerk of the National Assembly Doris Mwiinga read the bill for the first time in the House.

Mr Lungu referred the bill to the committee on economic affairs, energy and labour.

He asked the committee to submit its report to the House on Wednesday, July 15.

3 COMMENTS

  1. Good move as long as the Pensions are paid on time, sustainable and make economic sense to pensioners! The Government must also move quickly to give the workers the long over due Health Insurance and funeral scheme.

  2. These options are confusing and may lead to retiring loosing their benefits because they retired early or late. I would propose that retirement age be fixed by the nature of work. E.g. Policemen up to the rank of Assistant Superintendent, 55 (those that need torun around). The rest 60. Daily Classified Employees (e.g. Office Assistants, Drivers, Cooks etc 55), all senior staff in civil service with jobs in middle and senior management 60. Judges, lecturers and commissioners 65. Then it becomes clear. It shouldn’t be up to an individual, otherwise you lose the essence of this bill if say all civil servants opt to retire at 55 so that they get contracts there after in private firms.

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