SINCE President Hakainde Hichilema assented to the National Pensions Scheme Bill which provides for option claims by member under the prescribed minimum pensionable age, NAPSA has already paid K414.2 million to 11, 916 claims representing 7.9 per cent of the claims received.
According to the National Pension Scheme Authority (NAPSA) data base, the Authority received over 150, 000 claims, and the money needed to clear those claimants is K5.4 billion.
Featuring on Phoenix FM’s breakfast show that is Wednesday edition dabbed “NAPSA and You”, NAPSA corporate affairs manager Cephas Sinyangwe said 11, 916 claims have been paid so far, representing 7.9 of the claims.
He said the Authority was committed to poverty alleviation through its fixed deposits in various financial institutions that were helping to control the level of interest rates.
On December 6, 2022, President Hichilema assented to the national pensions scheme bill which provides for an option to claims for one office benefits by a member under the prescribed minimum pensionable age of 36 under the existing funds.
And Sinyangwe said the Authority had 65 billion asset portfolios, on which 11.6 per cent had been dedicated to real estate that have creating about 12, 000 jobs.
He said NAPSA had currently accumulated 65 billion assets portfolio with 68 per cent being concentrated in liquid financial assets.
Sinyangwe has alerted that through the NAPSA liquid financial stability, a life-saving investment was offered to government towards the completion of the Kafue Gorge Lower, a project which has helped to lessen load-shedding this year.
He adds that in the K65 billion asset portfolio, 11.6 per cent has been dedicated to real estate, creating about 12, 000 jobs from Society Business Park and Levy shopping Mall alone.
“Through NAPSA’s investments, about 22,580 persons are on monthly pension ranging from a minimum pay of k1, 300 to the highest of K7000 monthly,” said Sinyangwe.
“We help uplift the members from where they are supposed to be with their low income to minimal income earners until they die.”
#CAPTION: NAPSA director general Muyangwa Muyangwa
By Buumba Mwitumwa
Kalemba February 8, 2023
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