NAPSA waives penalties to the tune of K1.2bn

By Fortune Sinyangwe

The National Pensions Scheme Authority (NAPSA) has approved 5,704 penalty waiver applications by employers countrywide, amounting to 1.2 billion kwacha.

This has allowed the authority to collect contributions of about 43 million kwacha.

Labour and Social Security Minister, Brenda Tambatamba, says the waiver is part of the government’s broader agenda of promoting investments and job creation.

Ms. Tambatamba was speaking during the 2024 NAPSA Stakeholder’s Forum in Kitwe.

NAPSA Director General, Muyangwa Muyangwa, said the waiver has provided financial relief to employers by offering them an opportunity to settle outstanding contributions without worrying about high penalties.

Mr. Muyangwa said through the penalty waiver process, employers’ details are being cleaned to enhance communication and engagement, hence promoting compliance.