The Zambia Association of Pension Funds (ZAPF) has encouraged Zambians to contribute to a pension scheme as this is a sure way of saving for retirement.
ZAPF Office Manager Felicity Mwila has told Money FM News that even those in the informal sector, they should consider contributing to a pension scheme as this will help them plan for the future.
Ms Mwila says when people retire, they will need an income for survival and hence the need to contribute to the available pension schemes.
She says there is need for people to have something to fall back on in their old age.
“Previously, people used to have a lot of children let’s say about ten but it is different now as people can just have maybe two children. Children in the olden days were used as a form of social security but now things have changed hence the need to save,” she said.