UPND IS COMMITTED TO ENSURING THAT PUBLIC PENSIONS WORKS FOR YOU AND YOUR FAMILIES.
By: Anthony Bwalya
Out of an estimated 18m Zambians, at least 54% or approximately 8m live in abject poverty.
This means 8m Zambians have no access to guaranteed food, water, energy, shelter, health or education.
And out of this grime statistic, an estimated 3m of the entire poverty stricken population have a saving of some sort with NAPSA but are NOT benefitting from.
On a yearly basis, the value of these pensions for all contributors, diminishes by about 2.7% due to inflation and currency degeneration.
And by the time these people have access to their pensions money, the money would have lost up to 35% in value altogether.
This is a grave concern for the UPND.
But while these Zambians are denied access to their NAPSA money until they reach the age of 65, their government is looting NAPSA in big capital projects which benefit politicians and their friends.
The UPND is saying:
1. The mandatory retirement age will be reduced to 55 years so that Zambians have an opportunity to enjoy their retirement while time is still on their side.
2. All contributors into NAPSA will have PARTIAL, PERIODIC access to their NAPSA money ahead of retirement.
3. All contributors will be given the opportunity and choice to get their NAPSA contributions payments in full and promptly so that they may be able to build credible economic plans for themselves and their families.
Public pensions money belongs to the people and not the government.
Public pensions money must, therefore, work for the contributors.