President Hakainde Hichilema has signed into law, the National Pension Scheme Amendment Bill of 2023 which seeks to amend the 1996 NAPSA Act.
Mr. Hichilema says the new law gives citizens an opportunity to reinvest their funds into various ventures and assets of their choice.
He says with the new act, more jobs will be created, contributing to the government’s economic development agenda.
The new law also allows for revision on the penalty rate for delayed payments of contributions.
By Rhodah Mvula