Q FM Africa's Modern Radio
National Pensions Scheme Authority (NAPSA) has urged members of the public to take keen interest in knowing their contributions being remitted to NAPSA.
Speaking during the employers/employee seminar in Lusaka today, NAPSA Director General Charles Mpundu says as a pension scheme, NAPSA operates on principles of social insurance which means that the rights to benefits are earned based on contributions made to the scheme.
Mr. Mpundu says in this regard, employers are required as provided for under the national pension scheme Act no.40 of 1996 of the laws of Zambia to ensure that all the employees are registered and paid for within one month of being employed.
He stresses that failure to do so will attract penalties.
Mr. Mpundu also states that NAPSA will not hesitate to prosecute defaulting employers, adding that those employers who maybe facing financial challenges should visit NAPSA so that they can enter into payment plans.
He points out that there is need for employers to cooperate in paying monthly contributions accurately and timely with required accompanying information.