The National Pensions Scheme Authority (NAPSA) has warned employers that they would be prosecuted if they do not comply with remittance of workers’ contributions.
NAPSA Customer Service Manager South Tapeya Phiri said employers who were in the habit of not remitting workers’ contributions to the authority will be prosecuted once identified.
Mr. Phiri explained that according to the national pension scheme act. No 40 of 1996 of the laws of Zambia, any employee with an income of K15 was eligible to contribute to the authority.
He clarified that domestic workers and gardeners were also eligible for contributions and urged them to demand for the social security number from the institution.
Mr. Phiri further 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.
He reiterated the authority’s commitment to sensitise the public adding that people should also develop a habit of paying attention to sensitising massages in order not to be cheated.
He further urged employers to comply with officers on the ground and not perceive them as being there to harass employees.
NAPSA is on the ground urging employers to remit the contributions to the authority but this move has been received with mixed feelings from some informal employees.
Pensions should not be voluntary, NAPSA.
Thanks
income security against the risk arising from retirement.
Wow ! Thus interesting. If you can’t pay civil servants their
Retirement benefits, even uneducated fool would not
Trust you to pay a Gardner.
Another Don’t Kubeba.
Bakolwe imwe Just give the People the promised Constitution.
NAPSA is a drain and biggest fraud on workers. 30% of one’s contribution is eaten away by salaries, allowances and other establishment expenses of the employees, board and management of NAPSA. A major portion of employees and employers contribution is wasted on wrong investments and wasteful political, personal liking and ego-centric expenses. Maximum Monthly Contribution by an employee of $150 dollars +employers’ contribution of $150 for 30 years does not get back the retiring employees anywhere near an amount if he invest the same amount in treasury bills.
What kind of retirement plan is this?
Private Pension Schemes compared to NAPSA give 20 times more growth and benefits to the retirees. The Pensions and Insurance Authority has no supervisory control over NAPSA. Have the…
Continued… Have the privilege to have copies of actuary’s analysis of Madison Life, Professional Life and Napsa. Private firms stand on much stronger feet. Next government shall wind down NAPSA.
NAPSA you are useless only use our money to pay yourselves huge salaries at our expense.