By BUUMBA CHIMBULU
The Pensions and Insurance Authority (PIA) has implored people accessing funds through the partial withdraw from the National Pension Scheme Authority (NAPSA) to re-invest the money into projects with proper returns.
And the authority has encouraged employees to take keen interest in ensuring that their employers remit the funds to NAPSA for them to be able to access the benefits.
President Hakainde Hichilema on Monday this week signed into law the NAPSA Amendment Bill 2023 which allows for the partial withdraw of pensions.
Commenting on the development, PIA acting Registrar, Namakau Ntini, people accessing these funds should ensure they adequately prepare by re-investing in bankable projects with returns which would earn them more money going forward.Ms Ntini explained that the funds from NAPSA were meant for long-term benefits, hence the need to ensure they were not misused.
She said this at a media workshop in Lusaka yesterday held under the theme “The Role of Media in Enhancing Public Understanding and Appreciation of Pensions and Insurance.”
“Now we have NAPSA that is able to allow a access to pensions savings. I am sure you have seen what has been going around social media where people are literally saying can I buy a jet or upgrade myself, but if you really listened carefully to what the President said, these funds are supposed to be re-invested.