NAPSA contribution hike not true – Ministry of Labour PS
Written by newsroom on July 23, 2019
By Clinton Masumba, Kitwe
The Ministry of Labour and Social Security has dispelled media reports alleging that government intends to hike NAPSA contributions from 5 to 10% employee and employer contributions respectively.
Permanent Secretary Barnaby Mulenga has further stated that government has not made any proposals to abolish private pension schemes.
Mr Mulenga said there has not been any proposal made by government regarding NAPSA Contribution rate further adding that any changes for adjusting rates is only done after the law is in place.
He adds that government has not made any proposal to abolish private pension schemes as being alleged by some media reports further adding that government is consulting various stakeholders on pension reforms and the public will be made aware.