Politics

NAPSA Contribution Hike Story Fake, says Labour PS

The Ministry of Labour and Social Security has dispelled media reports alleging that government intends to hike NAPSA employee contributions from five to 10 per cent and abolish the private pension scheme.

The Ministry’s Permanent Secretary Barnaby Mulenga¬† said contrary to the assertions, there has not been any such proposals by government with regard to NAPSA contribution rate.

He stated that procedure for adjusting the contribution rate could only be done after passing the law, determining the benefits package and undertaking actuarial evaluation which should inform such an adjustment either upwards or downwards “of which this process has not yet been done”.

Mulenga stated further stated that there had not been any proposals to abolish private pension schemes as alleged by media reports.

He stated that government was consulting with various stakeholders on pension reforms and the outcome of such a procedure would  be availed to the public .

Mulenga further clarified that the said consultations were “not even about hiking contribution rates for NAPSA or to abolish private or occupational pension schemes”.

6 Comments

  1. Reuben

    Why hasn’t the statement come from Napsa itself?

    • Dude

      Hi Reuben, the statement can only come from minister of labour since Napsa are only instructed. Besides the law is made at ministerial level through parliament, hence minister and not Napsa.

  2. Maano

    Is Govt simply testing the waters for a possible nationalisation of private social security arrangements, such as pension schemes and other retirement plans, with a view to fixing some perceived political opponents? If so, why are these Govt workers (politician) bent on fighting their own masters, the Tax Payers and funders, their own people and compatriots?

  3. Kapijimpanga

    Their mouths and thinking evil order of the day mouths can’t remain shut for a moment pf has made the confused no where to go keep lying only solution hang yourselves before2021

  4. Jms

    I see two issues here (1) the minister said the process has not yet been done which mean any thing can happen (2)their are some consultation with various stakeholders which means it may be true now waiting for 2021 is too much and long otherwise the wound will surpass its limit

  5. os

    Since from past years the things were quite alright but for now things are getting bad each and every time.The fuel price is getting high,the food prices is going higher and higher,the money is loosing value each and every second.But you are now even to get to the small amount of money.Please our leaders try to ask before action.Don’t judge come up with something without having an idea how your plan is going to work.

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