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The National Pension Scheme Authority (NAPSA) has reportedly disbursed a total of K10.1 billion in partial withdrawals since the implementation of the partial withdrawal benefit in April 2023.
These payments were said to have been made to 487,389 eligible members out of the total membership of 1,119,412.
This is according to a statement issued on Wednesday by the NAPSA Head Corporate Affairs, Cephas Sinyangwe.
Sinyangwe explained that of the total amount paid out, K6 billion represented members’ raw contributions, while K4.1 billion was attributed to indexation and interest earned.
This accounted for 41 percent of the total amount paid, demonstrating the value of long-term pension savings and the growth of members’ funds under the scheme.
“Of the 487,389 recipients, 76,980 are women, who have collectively received K1.7 billion, 104,293 are categorized as youths, having received a combined total of K1.2 billion,” he added.
NAPSA, according to him, continues to show strong financial standing, with him saying the fund remains liquid and sustainable for all benefit types.
This assurance, he claimed, was backed by the scheme’s remarkable 31 percent growth in fund value, from K67 billion in December 2023 to K88 billion in December 2024.
“Beyond individual empowerments espoused by the Republican President Mr Hakainde Hichilema, the economic impact of the partial withdrawals has been significant.
“Numerous beneficiaries have invested their funds in various ventures such as housing, poultry businesses, trade, government bonds, and treasury bills, contributing meaningfully to national economic activity and job creation,” he said.
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