The National Pension Scheme Authority (NAPSA) is working towards ensuring that every Zambian obtains a social security number at the age of 16, to promote investment and financial security.
Speaking during a breakfast media engagement in Lusaka today, NAPSA Director General, Muyangwa Muyangwa, emphasized that just like the National Registration Card (NRC), it is the right of every Zambian to have a social security number at 16.
Mr. Muyangwa explained that this initiative will ensure that every eligible citizen has a savings account before entering employment, making it easier to remit NAPSA contributions.
“This initiative will change the mindset of many Zambians both in formal and informal employment on the importance of subscribing to NAPSA, ultimately securing their future,” said Mr. Muyangwa.
Meanwhile, NAPSA Director of Contributions and Benefits, Asa Msusa, says the scheme has also put in place measures to ensure employer compliance in remitting pension contributions.
Mr. Msusa stated that part of these measures include engaging employers on the importance of timely remittances and sending monthly notifications to ensure compliance.
He added that these efforts are aimed at ensuring that employees can access their retirement benefits smoothly, allowing them to retire with financial security.
By Christabel Kamunu
