ZNPF BENEFITS OVER K2 BILLION PAID TO 63,000 ZAMBIANS

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Posted by admin on September 22, 2025 at 2:36 AM

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Government has marked a major milestone in Zambia’s pension reform journey, delivering over K2 billion in Zambia National Provident Fund (ZNPF) benefits to more than 63,000 eligible citizens. The announcement was made during the third NAPSA Stakeholders’ Forum, held under the theme “Celebrating a Quarter Century of Growth, Innovation, and Social Security.”

Speaking at the forum, Minister of Labour and Social Security Brenda Tambatamba hailed the payout as a long-awaited relief and a testament to President Hakainde Hichilema’s commitment to building an inclusive and responsive pension system.

“This reform places money where it matters most directly in the hands of the people who had long waited for what was due to them,” Tambatamba said.

ZNPF benefits: K2 billion paid to 63,000 beneficiaries Penalty rate reduction from 20% to 10%, easing employer compliance, pre-retirement partial withdrawals  over K10.3 billion disbursed to 498,000 members

While acknowledging challenges such as low coverage and fragmented systems, the Minister reaffirmed the Government’s resolve to build a stronger, more sustainable, and people-centred social security system.

Director General Muyangwa Muyangwa highlighted NAPSA’s evolution into one of Zambia’s strongest financial institutions, now covering 1.1 million members, 70,000 employers and Billions paid out in benefits

NAPSA’s investments span infrastructure, mining, agriculture, manufacturing, energy, and housing, with digital innovations like the ICARE platform enhancing member engagement.

Board Chairperson Shipango Muteto reported that the fund grew from K87 billion in 2023 to K101 billion by June 2025, with a target of $10 billion by 2031, driven by high-impact investments.

Livingstone Mayor Constance Muleabai urged employers especially in the domestic sector to register workers for social security, reinforcing the call for universal coverage.

Now in its third year, the NAPSA Stakeholders’ Forum has become a cornerstone for dialogue, policy review, and collaborative reform, bringing together government, employers, labour movements, and civil society.