By Anthony Bwalya
The UPND believes that in a declining economy such as ours, where poverty, inequality and unemployment are rife, it is NOT beneficial for government through NAPSA, so continue holding on to workers’ contributions until the legally prescribed retirement age.
With life expectancy much less than 45 years, it means ALL contributors are expected to die well before they have an opportunity to receive their working life pensions packages.
In fact, NAPSA is now a money laundering conduit where pensions money is being plundered in inflated infrastructure related investments.
To reform NAPSA,
1. A UPND administration will allow partial, percentage based access to pensions contributions after a determined period of actively contributing into the NAPSA pool
2. A UPND administration to devise NAPSA based UNEMPLOYMENT BENEFITS once a contributor is out of work and actively seeking employment for at least THREE (3) months.
3. A UPND administration to focus on leveraging NAPSA to deliver RENT TO OWN low – medium cost housing units which contributors may rent with a view to own.
This will go a long way towards alleviating the housing crisis among civil servants and young professionals.
The UPND also believes NAPSA should be more accountable and transparent in their investment portfolio management, as well as fully disclosing the actual month on month returns on the various investments in which public pensions money has been ploughed.
These measures are aimed at delivering pensions justice for thousands, if not millions, of working class people. This will also be a bold and huge step towards redressing the poverty and inequality traps.