The Public Service Pensions Fund (PSPF) says it will construction of a shopping mall worth spend 72 million United States dollars along the Alick Nkhata Road in Lusaka’s Longacres residential area.
PSPF Chief Executive Dr Richard Mwiinga disclosed in an interview that the project to include office space and a hotel is expected to be completed mid-2019.
Dr Mwiinga further revealed that the ground breaking of the project will be launched next week on Tuesday the 23rd of May 2017.
He hinted that the project has so far reached 8 percent completion with the contractor he did not name.
Dr Mwiinga said the completion of the project targeted to take a 30 months period will help to create streams of cash follows for pensioners that contribute with the fund.
He explained the development is part of PSPF ‘s vision to grow its investment base.
And Dr Mwiinga said the institution is determined to create wealth for its members hence its decision to invest various capital projects.
He stressed that the institution wants its members to earn a good return when they retire.
Meanwhile, The Public Service Pensions Fund (PSPF) has unveiled its new logo with a commitment to provide quality service to its serving members.
Speaking during the launch of the new brand identity, PSPF Board Chairman Moses Banda said the new logo portrays the quality service the Fund offers to pensioners and administrators of deceased estates.
Mr Banda says his institution has been making efforts to improve the livelihood of its members through the provision of enhanced service delivery.
He disclosed that the Fund is now able to pay pensioners within 30 days of receiving files from the various ministries.
Mr Banda stressed that the institution does want its members to degenerate into destitutes.
The PSPF Board Chairman disclosed that the institution is now offering loans to serving members to buy or build houses while they are still in employment.
Mr Banda said the PSPF wants its members to construct houses before they retire using their retirement benefits.
He reiterated that the Fund will not relent in upholding its promise of providing sustainable pension benefits to each of its members.