NAPSA partial payment is flabbergasting, flummoxing – Mpombo
By Edwin Mbulo in Livingstone
GEORGE Mpombo says the NAPSA partial payment euphoria is eroding people’s benefits at retirement.
He advised people accessing the NAPSA partial payments to “avoid going on a social junketing binge.”
The former defence minister in the Levy Mwanawasa administration however noted that the partial payments will help cushion the negative impacts of the economy.
“The euphoria and razzmattaz over the NAPSA partial payment is flabbergasting and flummoxing because the premature partial payment is only eroding their pension benefits at retirement,” he said.
“Pension benefits are railroads meant to secure the future of a pensioner during ferociously hard times like our current economic headwinds buffeting the nation.”
Mpombo said with the current harsh economic conditions in the nation most partial payments will be used to cushion the negative impact of the economy.
He recalled the payment of huge bonuses to miners with a lot of fanfare, “which vamoosed almost immediately after payment due to difficulty economic environment coupled with poor planning”.
Mpombo said the amount of the partial withdraws is important but wondered what investment one can do with “say K15,000”.
“It’s advisable for those accessing their benefits to avoid going on a social junketing binge (excessive drinking and eating) as this will only exarcebate their economic woes in the future,” he said.
With regards an excercise to capture over 250,000 people in the informal sector by 2026 such as marketeers and taxi drivers, Mpombo said it’s an overzealous programme.
“And they are overstretching themselves from clear and explicit objectives. It’s over ambitious to include people whose business nature is itinerant (nomadic). Besides it’s too late,” he said.
On Monday, NAPSA manager South Tapeya Phiri said the informal sector accounts for close to 70 per cent of the Zambian workforce but it has not been included in the social security coverage safety net.
He said the informal sector would receive maximum benefits because the packages will have huge concessions.
“As NAPSA, we have set an ambitious target of registering over 250,000 informal sector members by 2026. By getting a pension cover with NAPSA there are a lot more benefits that come with the programme. For example, for the women we have maternity benefits that is intended to cushion you financially post childbirth,” said Phiri.- The Mast