NAPSA Pays Out K9bn

By Beatrice Mfula

The National Pension Scheme Authority – NAPSA- has so far paid out about 9  billion Kwacha out of the projected 11.78 billion in Pre-retirement lump-sum Benefits.

NAPSA Director General MUYANGWA MUYANGWA says the authority has hence dispelled the misleading statements circulating that NAPSA has started selling its properties because it has run out of cash.

Mr. MUYANGWA says NAPSA is financially sound and able to meet its obligations without any challenges.

He was speaking during a media briefing in Lusaka today.

He said the decision to sell some properties and land parcels is purely a long-term strategic investment decision aimed at improving the performance of the real estate asset class whose return on investment has not been very good for a long time now.

Mr. MUYANGWA said the Authority has also sufficient liquidity to meet all its liabilities, including payment of the Pre-retirement lump-sum benefits and investment.

He said NAPSA is able to meet all its obligations without the need to recall any investment in existing assets.

Mr. MUYANGWA assured that the payments will continue for all exiting eligible members and those who will be qualifying going forward.

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