NAPSA pre-retirement partial benefits withdrawal talks progress

AS Government continues implementing pension reforms, consultations on the proposed introduction of pre-retirement partial benefits withdrawal under the National Pension Scheme Authority (NAPSA) have progressed.

Government is earmarked to engage a wider spectrum of stakeholders, such as employers and trade unions, over the proposed pension reforms.

Presidential Spokesperson Anthony Bwalya said that the Ministry of Labour and Social Security has made progress regarding discussions on the pension reform agenda.

President Hakainde Hichilema promised to ensure that pensioners do not have to wait until retirement before they can start benefiting from their pension contributions.

The now governing party also pledged to see to it that NAPSA contributors are given the choice to periodically access their pension on a percentage basis, in real time and ahead of retirement.

The option of the partial withdrawal of pension contributions is for specific purposes, including investment in businesses and diversification of retirement income.

Credit: Zambia daily Mail


Please enter your comment!
Please enter your name here