Fri, 26 May 2017 22:58:43 +0000
By BUUMBA CHIMBULU
THE Public Service Pensions Fund (PSPF) is currently offering home ownership scheme which allows its members to obtain mortgages, says the fund’s board chairman, Moses Banda.
Dr Banda explained in Lusaka that the scheme allowed members to obtain mortgages from the fund which they could use to either purchase or build houses while still in service.
“Building of houses with pension money is now a thing of the past. Pension benefits are better used for other investments and off course old age enjoyment,” he said.
Dr Banda emphasized that the fund’s senior citizens should be the anchor of local tourism using their own money.
And Dr Banda said the fund had not yet cleared lump sum payments for people who retired three years ago.
He said the Ministry of Finance was currently actively directing money to the fund to clear the backlog.
“The retirees will be put on a monthly pension payment within a month and not necessarily clearing the lump sum payment.
“Fortunately for those who retire now they will be on Government payroll until their pension lump sum is paid,” he said.
