United Front for a Strong Foundation says cabinet’s approval of the National Pensions Scheme (Amendment) bill 2022, to provide members an option to access part of the contribution before retirement is a wrong decision.
Party President Brian Chisenga Lumbwe said the decision will negatively impact and interfere with Zambia’s investment portfolio.
Mr. Lumbwe said he believes the Pension funds are mostly used for several things hence allowing people to access parts of the funds before retirement cannot solve the challenges or poor attitude of being creative and innovative in terms of business to attain a proper live hood.
Mr. Lumbwe was speaking to One Love Radio in an interview.
“It interferes with the investment portfolio of the country, and when you allow people to be accessing the funds before the due date it affects the investment program for NAPSA itself,” he said.