Wed, 05 Sep 2012 14:50:23 +0000
Wednesday, 5th September, 2012. In line with Governments policy of liquidating all outstanding pension contributions, the Ministry of Finance has released K278.1 Billion to the Public Service Pension Fund of which K258 Billion is a payment towards outstanding pension contributions owed by the state.
As a Ministry, we are confident that this measure will help fulfill the promise made by President Michael Chilufya Sata during the official opening of Parliament in October 2011; to pursue all possible means of ensuring dignified lives for all citizens.
The release of outstanding pension contributions will definitely help to ensure that the majority of public service workers who were left in destitution upon retirement now begin to get their dues after years of waiting.
Clearly, Governments’ promises are on course.
We sympathize with the families of those who died without receiving their terminal benefits, it is for this reason that we urge the public service pensions fund to ensure that, where facilities exist at provincial level, payments should be made as close to the beneficiaries as possible.
Public Relations Officer
Ministry of Finance
- The Ministry of Finance gives PSPF K20 Billion every month. This means that the total funding for the period January to August 2012 now stands at K418.1 Billion.