THE National Pension Scheme Authority (NAPSA) last year collected over K2.9 billion in contributions and paid out over K500 million in benefits to its members.
This is in comparison to 2015 when the authority recorded a reduction of contributions of over K2.5 billion and paid out benefits of over K4.3 million, which reflects a reduction.
NAPSA contribution manager Arthur Msusa attributed the increase to efforts made by the authority to extend coverage of social security to all workers.
Mr Msusa said in an interview on Wednesday shortly after the Zambia Chamber of Commerce and Industry (ZACCI)-NAPSA employer sensitisation workshop
“Last year, we collected contributions worth K2,934,587,755.25 and paid out benefits worth K508,000,668.04 in comparison to 2015 when we collected contributions worth K2,538,654,794 and paid out benefits amounting to K435,879,916,” he said.
Earlier, Mr Msusa urged employers to take advantage of the electronic-NAPSA, which was introduced in January, by registering their employees as it is a statutory obligation.
He also urged employees to use e-NAPSA, which is an integrated web-based e-service portal, to check personal and beneficiary details and to keep track of their contributions.
Mr Msusa said the introduction of e-NAPSA has received overwhelming response from employers and that by the end of the quarter, over 90 percent registered to use the system.
The e-NAPSA has lessened compliance burden for employers and once details are submitted online, it is guaranteed that information is safe.
Mr Msusa, however, said that the system has experienced some challenges with internet connectivity in some areas.
“Although we have 26 offices countrywide, there are places like Siavonga district where we do not have offices and our members there experience connectivity challenges.
“To collect contributions, NAPSA travels monthly to Siavonga to set up temporary offices with portable internet devices to also allow members have access to online services,” he said.
Similarly, ZACCI board member Laurian Haangala said the countrywide eNAPSA sensitisation workshops will give an opportunity for businesses in far-flung areas to use the system.
“It will also help in extending social security coverage to domestic workers by making it easy for households to register and remit statutory contributions for their domestic workers,” he said.
And then what… Let PF decide how to use the money?
Does NAPSA also have a target of collection like ZRA so that the poor pensioner’s money can be savagely shared by the masquerades?
This is money better channelled toward citizens empowerment and industrialsation instead of heightening import consumption through shopping malls