THE National Pensions Scheme Authority (NAPSA) has disclosed that more than 180 Lusaka-based companies have been prosecuted for failing to remit workers’ contributions.
NAPSA acting director of contributions and benefits, Manson Mwiinga said non-remittance of pension contributions threatened the long-term financial sustainability of the scheme.
Mr Mwiinga said NAPSA was mandated to administer and enforce provisions of the National Pensions Scheme Act of ensuring that employers complied with the conditions.
He was speaking when he officiated at a seminar for workers held in Lusaka yesterday.
“Employers have to help the scheme with this situation so that employees who need benefits after their retirement are paid from the pension scheme without any difficulties.
“It is important that workers are safeguarded against contingencies that have been identified to affect them in their old age,” Mr Mwiinga said.
The revised NAPSA Act No. 7 of 2015 provides for the pensionable age of 60 years and should be made known to employers 12 months before attaining that age.
Mr Mwiinga said according to the National Pension Scheme Act No. 40 of 1996, any employee with an income of K15 is eligible to contribute to the Authority.
He said the Authority was formed to provide income security against the risk arising from retirement and death, hence the need for everyone to comply with the contributions.
Mr Mwiinga reiterated NAPSA’s commitment to sensitising the public and ensuring that it delivered services diligently.
NAPSA will soon launch an e-collection system that would enable workers to download their returns and to check statements online.