GOVT MUST AUDIT ZNPF/NAPSA SCHEME: IT IS LAW BUT CAPITALISTIC AND NOT BENEFICIAL TO WORKERS
…NAPSA is biggest beneficiary of its Scheme; workers eventually die as destitutes
By Isaac Mwanza
After working for 26 years since 1969, a contributor to ZNPF/NAPSA pension scheme only retired with a pension of below K270 which NAPSA paid him around 2006. Of what worth is it for a man to spend his life only contributing to NAPSA only to get K270 or below from NAPSA by 2006? NAPSA contributions must become optional.
Call me bitter but workers must beware of ZNPF/NAPSA! There is still nothing to celebrate 56 years after Independence. The way the system treats our country’s labour force largely contribute to increased corruption, misappropriation and theft by servant in public and private places.
Successive political leaders, including those in the UPND administration, have never understood how ZNPF/NAPSA Scheme is robs the public and privator sector workers workers. But politicians are okay with this. Even the current amendments to the NAPSA Act will not have because of how this ZNPF/NAPSA system has been messed up to benefit the institution itself and not the workers.
In August 1969, an obedient contributor to ZNPF/NAPSA made the first contribution of K8.00 towards his life pension hoping that when he retired his pension be able to look after him till his last breath on earth. In July 1973, his contribution to the Fund was increased to K12.00 until March 1980.
From April, 1980 to September, 1985, ZNPF increased his contributing K20.00 every month.
In October, 1985 to December, 1988 when things got worse for government, his contribution rose to K30.00 per month and between January 1989 to March, 1990 contributions were increased to K50.00 per month. This contribution was increased by 100 percent in between April, 1990 and November, 1990 where he paid K100 per month and thereafter in December, 1990 he begun to make a contribution of K300.00 per month until June 1992.
I am not an economist but I seem to perfectly understand what our Kwacha went through 1 year after we changed government but this mam started making a contribution of K1,500 per month in July. 1992 and May, 1995.
Again, between June 1995 and December, 1995, his contribution jumped to K10,500 per month when he retired.
For all these years that he made contributions, what did he get as benefits from NAPSA?
Between 1995 and 1996, NAPSA paid put K195. Yes, K195 in retirement claim. I was just completing my high school then and i can vouch K195 this man could not buy essentials for a boarding student.
Between 2005 and 2006, he got his last payment of K72.
