- July 3, 2017
- Posted by: Diana Ngula
- Category: News
Minister of Labour and Social Security, Honourable Joyce Nonde Simukoko – MP, has called on the newly appointed National Pension Scheme Authority (NAPSA) Board of Trustees to be magnanimous and support the Authority’s viable projects, invest members’ funds prudently and make sound decisions that will promote the sustainability of the scheme. Hon. Simukoko advised the Board to take advantage of the fact that the fund was performing well in the economy and therefore there was need to build on the gains that the institution had made so far.
The Minister was speaking at the induction ceremony of the NAPSA Board of Trustees which was recently held in Lusaka.
“There is need to ensure that, as a Board, you put in place a strategic plan that would enable you to realign operational plans to the strategy in order to achieve the objectives of the fund. I urge you therefore to familiarize yourselves with, and critically analyze, the fund’s investment strategy and guidelines to make them more responsive to the needs of the workers, beneficiaries and the economy as a whole by incorporating aspects of socially and economically targeted investment,” she said.
The Labour Minister reaffirmed Government’s commitment to ensuring that the National Pension Scheme Authority did not remain a preserve of a privileged few. She said government wanted to ensure that social security coverage was extended beyond employees in the formal sector to incorporate those in the informal sector as well.
“Extension of NAPSA’s mandate to cover the informal sector is the future of NAPSA and it is also our Government’s desire to ensure that we include all eligible members of society in this social protection net,” she added.
And Chairperson of the NAPSA Board of Trustees, Ms. Marian Munyinda expressed gratitude to government and to the Minister of Labour in particular for the opportunity accorded to her and her entire team to serve on the Board of the National Pension Scheme Authority. Ms. Munyinda noted that the Minister had constituted a Board with, not only varied expertise and experience, but one which was gender balanced.
“The diverse expertise represented on this Board will no doubt go a long way in ensuring that rich and divergent perspectives are brought to bear on the decisions of the Authority, thereby promoting effective corporate governance,” she said.
Ms. Munyinda pledged the Board’s commitment and dedication in their role of providing the necessary oversight on the management of the Scheme.
“The Trustees are cognizant of the huge responsibility placed on them to ensure that the Authority lives up to its mandate of providing long term income security to its members. In this regard, I wish to restate your Board’s commitment and dedication to discharge this mandate and uphold the tenets of good corporate governance. We also wish to assure you that we will provide the necessary oversight on the management of the Scheme and exercise our fiduciary responsibility in line with our legal mandate.
Members of the new NAPSA Board of Trustees include:
- Ms Marian C Munyinda – Chairperson
- Mr Mukuli Chikuba – Member
- Ms. Catherine Nampasa Chinunda – Member
- Mrs. Agness Nyondo Chakota – Member
- Mrs. Mutale Chilangwa Chisela – Member
- Mrs Euphemia Mubanga – Member
- Mr Mabvuto Daka – Member
- Mr Barnaby Mulenga- Member
- Ms Freda Tamba – Member
- Mr Chingati Msiska – Member