NAQEZ calls for amendment of NAPSA Act

• NAQEZ demands that teachers begin to draw part of what they contribute to NAPSA.
• There is no way that NAPSA can be crafted to deny retired teachers lump sum as pension benefit.
• This is a clear act of pushing teachers into destitution, during and after working life.

National Action for Quality Education (NAQEZ) has called on Government to immediately amend section 19 of the National Pension Scheme Authority (NAPSA) Act in order for teachers to start getting part of their savings after serving for 10 years.
NAQEZ Executive Director Aaron Chansa told Money FM News that teachers must begin to draw part of what they contribute to NAPSA as the country looks forward to reforms for the social security entity.
Mr. Chansa said teachers from private and Government schools are utterly against the way NAPSA is operating, because in its current form, the Authority is designed to increase poverty among teachers.
“As the country looks forward to National Pension Scheme Authority (NAPSA) reforms, NAQEZ demands that teachers begin to draw part of what they contribute to this social security entity. There is no way that NAPSA can be crafted to deny retired teachers lump sum as pension benefit. This is a clear act of pushing teachers into destitution, during and after working life.”
“NAQEZ pleads with Government to immediately amend section 19 of the NAPSA Act in order for our teachers to begin getting part of their savings after serving for 10 years. As the Republican President prominently promised, this introduction will enable educators to build decent houses without entangling themselves in expensive debts,” Mr. Chansa demanded.
Mr. Chansa added that once Part five of the NAPSA Act is seriously and wholly attended to, teachers will be retiring with handsome amounts of money as opposed to the current arrangement where NAPSA only gives them small monthly allowances as pension.
“Now that the Presidency has displayed political will over this important matter, teachers and Zambians will blame the Minister of Labour and Social Security if this law will not be amended. On our part as NAQEZ, and obviously on the part of overwhelming majority of teachers, it will be astonishing if NAPSA will remain the same by April, 2023,” he added
Government, through Ministry of Labour and Social Security, has proposed to introduce pre-retirement partial withdrawal of benefits under the National Pension Scheme Authority (NAPSA).

More From Author

World Bank urges Zambia to capture other benefits beyond mining sector

• World Bank is committed to supporting African countries to translate Africa’s mineral wealth into…

Read More

Kwacha gains should benefit consumers – BuyZed

• This is to ensure that consumers begin to enjoy what is produced locally.• Manufactures…

Read More

SEC attributes decline in Q4 bond trades to delayed debt restructuring process

• One of the challenges is to do with the delays in finalizing the debt…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Stakeholders call for inclusion of children with Autism in education system

There is no effort to include children with Autism in the current Education system. Government…

Read More

Over 600,000 homes to benefit from Liquid Zambia’s enhanced internet access

Connectivity is the cornerstone of Zambia’s digital transformation journey. This remains vital in driving digital…

Read More

April food basket drops by K255.14-JCTR

This is compared to the March basic needs and nutrition basket which stood at K10,…

Read More