NAPSA’s Partial Withdrawal Law Can’t Resolve Economic Challenges – Kabimba

Wynter Kabimba


ECONOMIC Front – EF Party Information and Media Chairperson, Fewdays Nsensema, says the National Pension Scheme Authority-NAPSA Partial Withdraw Law will not resolve the current economic challenges people are facing.

He states that this is due to bad policies the United Party for National Development-UPND government is implementing, adding that the move will rather create more hardships and destitution in the next few years.

Nsensema advances that if an employee who is energetic and employed still cannot lead and afford a better life style, it is almost certain that the problem is the ailing economy and not lack of access to NAPSA benefits.

He wonders what will happen to individuals when they are no longer energetic to work and are out of employment, fearing that families will be affected.

Nsensema says what NAPSA beneficiaries need is not 20% partial withdraw of their benefits but rather an improved economy, reduction in the costs of living and costs of production, as well as access to business opportunities and affordable goods and services.

He adds that Zambians also need a more responsive Banking Sector to provide financing to people doing business, including the unemployed, at affordable interest rates and easy access.

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  1. Why don’t you talk about the loans with very interest rates that banks advertise to workers? It’s not mandatory to get a loan. In the same vein it’s not mandatory to claim the 20% NAPSA contribution. Please use your energy and financial knowledge to advise those who decide to withdraw part of their savings on how to invest than to talk against a regulation which is not compulsory.


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