Early Withdrawal of Pensions Elates Teachers

Teachers in Mambwe District are elated following the signing of of the National Pension Scheme Authority (NAPSA) amendment Bill of 2023 by President Hakainde Hichilema.

The new bill will enable teachers to withdraw part of their pension contribution earlier than initially anticipated, which Mambwe District Education Board Secretary (DEBS), Christine Sinyangwe, noted made many administrators in the area happy. Having access to additional funds earlier than anticipated will enable teachers to pay off some of their debts, relieving some of their financial pressures.

Ms Sinyangwe hopes that the funds will be put to good use by those who decide to access them early.

“I would advise my teachers to go and access these monies from NAPSA and use it wisely. I urge all of them to invest these monies wisely so that they can no longer be laughing stocks in society,” she said.

Jumbe Primary School Teacher, Stephan Chulu, noted his pleasure at seeing the Amendment Bill come into play. “…the partial withdrawal of one’s benefits will enable those who qualify to get their funds and invest it and also enjoy the fruits of their labour.” he said.

Photo: Lusaka Times