NAPSA pays out K8.7 billion

By Etambuyu Katota

The National Pension Scheme Authority -NAPSA has paid out K8.7-billion to over four hundred thousand beneficiaries under the pre-retirement lump-sum benefit programme.

Labour and Social Security Minister BRENDA TAMBATAMBA announced this during the launch of the NAPSA 2022 to 2023 strategic plan in Lusaka today.

Ms. TAMBATAMBA said the launch of the strategic plan reaffirms government’s commitment to transforming the social security system.

And NAPSA Board of Trustees Chairperson SHIPANGO MUTETO said the authority intends to increase its fund size to One hundred billion Kwacha by end of the strategic period.

Mr. MUTETO said the authority also intends to increase its membership to about Six hundred and seventy thousand from both the informal and formal sector by 2026.

Meanwhile NAPSA Director General MUYANGWA MUYANGWA assured eligible beneficiaries that money is available for partial withdrawals.

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