By Sharon Siame
Labour and Social Security Minister BRENDA TAMBATAMBA says the Government is committed to pension reforms aimed at meeting both the long-term and short-term needs of workers.
Ms. TAMBATAMBA says the Government has begun rolling out comprehensive reforms approved by Cabinet.
These include increasing the NAPSA income replacement rate and allowing access to 20 per cent of benefits before retirement.
The Minister said this during the National Symposium on Pension Reforms held at the Mulungushi International Conference Centre in Lusaka.
She said the reforms are intended to ensure timely and predictable benefit payments, harmonised pension schemes and expanded coverage.
Ms. TAMBATAMBA said there is a need to align contributions and benefits with economic conditions in order to promote sustainability and adequacy.
Meanwhile, Zambia Congress of Trade Unions –ZCTU- Secretary General JOY BEENE called for reforms that promote equity across both the public and private sectors, and for greater consistency in pension schemes.
And Emoluments Commission Director General and Chairperson of the Steering Committee on Pension Reforms CHEMBO MBULA said the National Pension Scheme Draft Bill of 2025, the Public Service Pensions Draft Bill of 2025 and the Local Authorities Superannuation Fund Draft Bill of 2025 are designed to address existing challenges and gaps within pension funds.
