NAPSA Announces Penalty Waiver Extension

By Doreen Chembe

The National Pension Scheme Authority -#NAPSA- has extended the penalty waiver period from two to three years, following the issuance of the National Pension Scheme Regulation Number 10 of 2025.

NAPSA Head Corporate Affairs, CEPHAS SINYANGWE says the extension of the waiver period is in response to the economic challenges faced by many businesses, particularly following the drought and energy crisis of 2024, which strained cash flows and disrupted business operations across the country.

Mr. SINYANGWE says the extension of the penalty waiver includes adjustments to the tenure for various categories of waivable penalties.

Meanwhile, Mr. SINYANGWE has revealed that as of April 13, 2025, a total of K1.73 billion in penalties has been waived, benefiting 7,240 penalty waiver applications.

He says this represents a significant milestone in the ongoing penalty waiver initiative, which commenced on January 8, 2024.