LABOUR MINISTRY SUGGEST EXTRA 10% NAPSA WITHDRAWAL

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Posted by admin on February 11, 2026 at 1:10 AM

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Ministry of Labour and Social Security is considering allowing workers to withdraw an additional 10 percent from their NAPSA savings under ongoing pension reforms.

The reform could allow members to access up to 30 to 40 percent of their pension savings before retirement.

Minister of Labour and Social Security Brenda Tambatamba described the proposal as an “add-on” to the existing 20 percent pre-retirement benefit.

She emphasized that the reform is still in the pipeline and will be tabled in Parliament as part of broader pension reforms.

The 20 percent pre-retirement benefit, introduced soon after the UPND assumed office, injected K11 billion into the economy, benefiting workers and communities.

Ms Tambatamba hailed the reform as a milestone, noting it was once “unimaginable” that workers could access part of their pension while still employed.

Before introducing the 20 percent withdrawal, government consulted actuaries and economic experts to ensure fund sustainability.

NAPSA’s portfolio has grown from K67 billion in 2021 to over K105 billion, easing fears of collapse.

Ms Tambatamba explained that while workers wanted a bigger percentage, the 20 percent was aligned with actuarial recommendations.

The proposed additional withdrawal could provide workers with greater financial flexibility, especially in times of economic pressure.

Government has committed to maintaining a minimum of 40,000 frontline health workers and strengthening social security systems as part of broader reforms.

Ms Tambatamba praised President Hakainde Hichilema’s leadership, describing his reforms as bold and forward-thinking governance.