RELEASE REPORT, SATURNIA AUDITORS ORDERED

Fri, 10 Nov 2017 09:47:00 +0000

By Oscar Malipenga

INDEPENDENT auditors contracted by Pensions and Insurance Authority (PIA) to assess the financial and operational governance of Saturnia Regna Pension Trust Limited have been directed to submit a full report and make it public, Finance minister Felix Mutati has disclosed.

Mr Mutati said on Tuesday Pensions and Insurance Authority (PIA) registrar Martin Libinga wrote to the auditors to submit a final report.

He said this during debate in Parliament on a notice of motion moved by UPND Mazabuka member of Parliament Gary Nkombo on terminal benefits for retirees.

Mr Mutati explained that after submitting a full report it must be made public so that Zambians could appropriately make a judgement.

“Mr Speaker, as of yesterday (Tuesday) the registrar of the Pensions and Insurance Authority did write to the auditors that were contracted to undertake the necessary work to submit the final report.

“This report will be made public so that the judgement will be made appropriately by the people of Zambia,” Mr Mutati explained before concluding his debate.

Recently, Mr Mutati directed PIA to appoint an independent auditor to assess the financial and operational governance of Saturnia Regna which Zambia’s largest private pension scheme.

He directed PIA to submit a report within 30 days.