NAPSA says K9 billion disbursed as pre-retirement lump sum benefits to 435,000 persons

The National Pension Scheme Authority (NAPSA) has to-date disbursed about K9 billion to over 435,000 individuals under the pre-retirement lump sum benefits.

This initiative was recently introduced by President Hakainde Hichilema’s administration.

NAPSA Director General, Muyangwa Muyangwa, made the announcement when he received a dividend worth over K109 million from ZCCM-Investments Holdings PLC for the financial period 2021 and 2022.

Muyangwa stated this during a press briefing in Lusaka on Thursday, saying that the customers interest remained at the core of its investment decisions and activities.

He said the agency had been able to pay the K9 billion to its members because it had a solid liquidity base resulting from earnings from the diversified investment portfolio.

“It is this unwavering focus that has seen us continuously review the performance of our investment portfolio, introduce new products such as the informal sector sub-scheme as well as successfully implementing new benefits such as the pre-retirement lump-sum benefit, which was recently introduced by the new dawn government,” he said.

On the dividend, Muyangwa said NAPSA stood as a key player in the Zambian economy, particularly in the financial and capital markets.

“We have a fiduciary responsibility to diligently safeguard and grow our members fund through sound investments. One of our significant investments is our stake in ZCCM-IH in which we hold 15 percent of the shareholding.

“I am pleased to inform you that this investment had continued to yield return for the members, thereby aligning perfectly with our goal of growing our members fund. We are excited to have received a cheque worth one hundred and nine million Kwacha from ZCCM-IH,” he said.

Speaking at the same event, ZCCM-IH Board Chairperson, Kakenenwa Muyangwa, said this was the eighth year, it was giving back its return on the investment to its shareholder,NAPSA.

Muyangwa said this demonstrated the holding company’s commitment to its quest to delivering returns on investment to its shareholders.

He said on Wednesday, they had delivered a dividend to its shareholders, the Industrial Development Corporation (IDC) worth K436 million, the largest in the history of ZCCM-IH and within the IDC group.

“We are focused on generating consistent and predictable income through investments in brownfield and greenfield mining projects, while ensuring the maximization of value for our shareholders and the Zambian people,” he said.

Muyangwa further added that ZCCM-IH was positioned to leverage on the country’s mineral wealth for the benefit of the Zambian people.

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