• It’s only now that NAPSA is seen to be investing its resources correctly.
• NAPSA’s investments should be seen to be benefiting contributors of the resources as well as the vulnerable people.
• The partial withdrawal is a step in the right direction.
An Economist has urged National Pension Scheme Authority (NAPSA) to ensure that its investment portfolio of K71 billion which has been invested in diverse asset classes benefits the majority Zambians.
Speaking in an interview with Money FM News, Partner Siabutuba stated that NAPSA’s investments should be seen to be benefiting contributors of the resources as well as the vulnerable people.
He said it is gratifying that the Authority has that sort of investment portfolio, which should be translated into ensuring that those who are supposed to benefit from their contributions are given their resources at a time they need them.
“I think it’s only now that NAPSA is seen to be investing its resources correctly. We have seen NAPSA building houses, estates investing in these facilities that are only cacheable by rich people.”
“If they have that kind of investment portfolio, I think those investments should be seen to be benefiting the contributors of those resources but most importantly the poor people,” Mr. Siabutuba stated.
And Mr. Siabutuba said the partial withdrawal of pre-retirement benefits is a step in the right direction, and stakeholders are hoping that people who want to get lump sum will be allowed to do so without any fears.
“I think that the partial withdrawal is a step in the right direction, and we are hoping that those who want to get lump sum should also be allowed to do so without the fears that we saw on social media about money being inadequate but most importantly we want to see those investment portfolio amount levels benefit the contributors. Why do we see people go for years without receiving their money when NAPSA has such amount of money?” he wondered.
Recently, NAPSA Director General Muyangwa Muyangwa disclosed that the Authority has an investment portfolio of K71 billion, equivalent to US$ 3.3 Billion which has been invested in diverse asset classes including fixed and liquid assets to meet benefit payout obligations as and when they occur.
Mr. Muyangwa said the investment portfolio includes 69% in Government Securities and Fixed Term Deposits, 10.3% in Real Estate, 7% in Green Fields and 6.5% in Infrastructure, among others.
