THE review of the National Pensions Scheme Authority (NAPSA) penalties is on cards to come up with fair interventions that will not be injurious to businesses and acceptable by all parties, Minister of Labour and Social Security Brenda Tambatamba has said.Ms Tambatamba said the issue of the NAPSA penalties was on the agenda that the government had tabled to the tripartite council to see how best the issue could be handled in a fair way that could be acceptable to all stakeholders.She said Government had been in consultation with the stakeholders who were the representatives from the employees and from the companies so that the decision that would be arrived at would be acceptable to all parties.She said that the government had it on the agenda that they would look into pension’s reforms comprehensively.Ms. Tambatamba said they would study every aspect of what forms the package of the pensions’ scheme that the country had and one of the key areas that had been raised was the NAPSA penalties.She said that they had been receiving calls regarding the NAPSA penalties in the three months UPND had been in government and that was why they want it tabled.Ms. Tambatamba said they had been looking at the agenda actively because it was one of the things that were brought on their table that was why they engaged various stakeholders in social dialogue that would help them formulate it.This follows calls from various stakeholders suggesting that the 20 percent penalty from NAPSA that is charged on all late or unpaid contributions should be reduced significantly or scrapped to give breathing space to industry.
NAPSA PENALTIES REVIEW COMING, SAYS MINISTER
