Saturnia Regna Pension Fund has clarified that UPND leader Hakainde Hichilema is neither a shareholder nor a Trustee of the Trust Fund.
Reacting to media reports that Saturnia Regna Pension Trust Fund has failed to pay the BP Zambia ex-employees their retirement benefits and that Mr. Hichilema was a major stakeholder in the Trust Fund, Board of Trustees Chairperson Doreen Kabunda said the reports are false.
This also comes in the wake of reports that a group of ex BP workers are planning to camp at Mr Hichilema’s private estate to push for the payment of their pension arrears.
But Mrs. Kabunda explained that the Trust Fund has never been sued by any ex-employees of Puma Energy Plc which is formerly BP Plc.
She however said that the Pension Fund is aware of the ongoing action in the Courts of law between a group of ex-employees of BP Plc and their former employer over Pension Benefits.
In a statement, Ms. Kabunda stated the Trust Fund is not and has never been a party of this court action.
She added that Saturnia Trust Fund is a distinctively separate and independent Trust Fund and should not be confused with any private entities or companies that may bear similar name or address.
And Mrs. Kabunda also clarified that Saturnia has no share capital because it is a registered multi-employer Trust Fund.
And UPND Secretary General Stephen Kakuta has denied that Mr Hichilema is involved in the running of Saturnia Regna Pension Fund.
“We can categorically state that Mr. Hakainde Hichilema does not own, nor is he a trustee of, Saturnia Regna Pension Fund, as has been reported by various media outlets including ZNBC, the Daily Mail and the Daily Nation,” he said.
“He has nothing to do with the fund and we find it offensive that individuals appear to be exploiting this case for political advantage in a desperate attempt to divert attention away from the PF’s poor track record in office.”
“Furthermore, we understand that the trustees of the fund itself will be issuing a statement in due course to clarify their own position. The public media that reported this story without checking their facts must remember it is their duty to be non-partisan in their reporting,” Mr Kakuta advised.
He said he is saddened that Mr Hichilema’s opponents would rather talk rumour and gossip than policies and plans and suggest that the PF returns its focus to the billions of kwacha government currently owes unpaid Zambian pensioners as a matter of urgency.
What next now since this has backfired? Our media organisation do not research..even when documents are readily available at pacra and the courts.
Free advice to the BP pensioners:
1. Appoint bailiffs to seize assets of Puma in Zambia
2. Register your court judgement in London where BP’s had office is. Appoint a strong barrister to take BP to court.
3. Don’t play political games with your pension. HH never employed you. You are barking up a wrong tree. You are wasting time and playing A PFoolish game.
It is your choice.
HH does not have shares in the Pension Fund but has shares in African Life Financial Services which is the Fund Manager. By this indeed HH cannot be a trustee but the Pensioners have the right to ask what the Fund Manager has done with their claims. Look, be educated, a Pension Fund does not even register with PACRA, it registers with the Pensions and Insurance Authority (PIA). HH truly needs to manage other people’s interests more prudently.
SAINT DESPERACIOUS
Lets assume HH has shares as you put it. How does that help to understand your thoughts if Saturnia Chairperson said that that they have never been sued by those BP employees?
“But Mrs. Kabunda explained that the Trust Fund has never been sued by any ex-employees of Puma Energy Plc which is formerly BP Plc. She however said that the Pension Fund is aware of the ongoing action in the Courts of law between a group of ex-employees of BP Plc and their former employer over Pension Benefits. In a statement, Ms. Kabunda stated the Trust Fund is not and has never been a party of this court action”.
THATS A LIE FROM MRS KABUNDA. I WORKED FOR SATURNIA, HH WAS ONE OF THE TRUSTEE 5YRS AND THIS CASE HAPPENED WHEN HE WAS STILL A SHAREHOLDER. TELL US THAT YOU HAVE CHANGED THE TRUSTEE COMPOSITION KU PACRA, WE SHALL HEAR YOU.
Saint also don’t expose your ignorance. Why not start with the day to day managers of a business. He is a shareholder maybe but is he doing the daily management. And what has the court said. It’s not the stone ages where you organise a mob and raid some village.
dirty politics… why wait for twenty?
Where is that devils son Kudos. He is always first to comment. The devil is a LIAR so are his children like Mr Kudos.
WHAT ELSE DO YOU EXPECT FROM EMPTY SKULLS? PF IS FULL OF EMPTY DRY SKULLS. LUNGU IS NO EXCEPTION.
Where is that son of a bitc Kudor?
So does it mean that the government pensioners who are owed money should also go and camp at Mr Edgar Lungus house?
You know Lungwe had no house anywhere. They can go and camp at his ramshackle in Chawama.
The whole thing is just a sham even if the guy had shares in the shebang! Do people go camp at Airtel,MTN or Zamtel shareholder’s homes for poor services? Grow some brains you PF minions.
It’s the desperate 2016 most incompetent and idio.tic president of the millennium Edgar chakolwa kaloba Wrungu who is sending this people. Be warned you idio.ts try to go to or near our president resident will ll sort you out.
Here’s the irony On the case of EL. Compare 2 lawyers from the same school, same lecturers, same assignments, same mwembeshi AND just focus on their differences. LUNGU VS MWANAWASA.
Chakolwa Lungu must fall.VIVA HH 2016
Makes wonder whether it matters to put a qualification limit or not.
Psalm 37:12,13 The wicked plots against HH, and gnashes on him with his teeth. Isaiah 43:3: For You are the LORD, the Holy One of Israel, HH’s Savior. Isaiah 54:17 : no demonic weapon formed against HH and HH’s team shall prosper; and every tongue that shall rise against HH and HH’s campaign team in judgment is NOW condemned. HH is the righteousness of the Lord God. According to Isaiah 50: it is God who vindicates and is near HH. Who then will bring charges against HH? Let the accuser of HH face God! Who is HH’s accuser? Let him confront God! Lord you have said in Isaiah 49:25 that the captives will be taken from warriors, and plunder retrieved from the fierce; and that YOU will contend with those who contend with HH and his campaign, and that you will save HH. Psalm 35:1 :…
Psalm 35:1 : Contend, O LORD, with those who contend with HH; Fight against those who fight against HH. Isaiah 54:15. Lordy you have said anyone who stirs up strife against HH, it is not from You and that they shall fall because of HH. Isaiah 41:11,12 Behold, all they that are incensed against HH shall be ashamed. Genesis 12:3 And You Lord will bless them that bless HH, and curse him that curses HH. Psalm 3:7 : Arise, LORD! Deliver HH, my God! Rescue HH, my God! Slap all HH’s enemies in the face! Shatter the teeth of the wicked opposers, false witnesses, manipulators, liars, lying accusers, deceivers, beguilers, snake charmers!
@prayer warrior it will be a miracle for the devil to worship God. Why don’t you focus on his association with fremansory first before you you start thinking of him been the president. God has a way of installing leaders not that $tupid prayer of yours. It’s unbiblical to use God’s name in dirty things.
The Ediot “Kudo” must have been recalled from that diplomatic post or was not adopted on the PF ticket. He’s suspiciously quite
RECORDS ARE THERE AT PACRA WHERE IT VERY CLEAR THAT HH IS OWNS SHARES IN SATURNIA.
kABUNDAKANYO IS JUST A PAID PROSTITUTE
An you are an !d!ot for free 🙂
LET THEM CONTINUE SPREADING FALSE RUMORS. THEY ARE MAKING HH POPULAR LIKE WHAT THEY DID TO SATA.
OK good can u the journalist find out who the major share holders in African assuranceassurance and who are the major share holder in the mentionaed company . its shocking that himself has failed to say anything about just kachemas barking all over let the guy came out in his own words period chola boys busy yeping pls give us a break
Man boy you are seriously ignorant. Get an education man.
Please leave HH alone you uneducated people.
Can i call every one here as a Friend of mine because you are all my follow Zambians. Lets not be petty. Even if HH had shares in Saturnia, please learn that a share holder does not make executive decisions and sometimes does not even receive any dividend from the investment if the Directors decide not to give dividend either because there is a loss or they intend to re-invest the profits .
As some one has already stated there are so many Zambians whose retirement benefits have not been paid not only by the PF government but also by the previous Governments under Public Service Pension Fund ( PSPF) and a lot more others under the Local Authority Supperanuation Fund ( LASF) most of whom were employees from local Government. The PF was a caring Government surely five years in office…
they should have paid out a lot of our retirees but that has not been the case . Instead what we have seen is increasing the retirement age from 55 years to 60 years and to 65 years on account that when people retire at age 55 , they do not spend their money wisely so they should remain working for a longer period of their lives so that when they retire at 60 or 65 they have few years to live before they die so that they are not paid their retirement benefits. In fact the law they have passed is such that when you retire as civil servant they only pay you 40% of your retirement package and the rest remains in the pension fund to pay you 40% of what you were earning on a monthly basis but remember after 60 or 65 years you have very few years to live.
So those of my friends who are just…
I don’t know how to put it but I was extremely disappointed with ZNBC for airing such news. Does it mean that ZNBC has now dull people who cannot tell that was wrong information to air it as news.Surely, how can the entire Corporation reduces itself to that level of being convinced by that quark that he has news worth to share.
No wonder education standards have gone down in Zambia.institutions like ZNBC must be a source of information for education but now, no one would want to associate himself with this ZNBC