ZCAS REJECTS SATURNIA

… As workers demand for refund from Saturnia

ACRISIS meeting was on Friday called at the Zambia Institute of Chartered Accountants (ZCAS) University management to find a way of cancelling contributions to the Saturnia Regna Pension fund by its staff.

THE Saturnia Regna Pension Fund has allegedly been imposed on employees at the University as a second pension scheme in unexplained circumstances despite already being covered by the National Pension Scheme Authority (NAPSA). Workers explained that since 2017, ZCAS University employees have been enduring an unwanted second pension contribution managed by Saturnia, which was allegedly imposed on them by the former board and former senior management who were at the institution at the time. Sources explained that the Saturnia scheme was in addition to the progressive and well-managed statutory pension scheme managed by NAPSA.

It is believed that Saturnia was single sourced without following tender procedures, given that ZCAS is a Government institution that should adhere to Zambia Public Procurement Act of 2008.

The sources said it was also alleged that Saturnia was corruptly sourced without due involvement of employees.

When the Daily Nation published the story on Friday, about the dual pension scheme contribution that workers were subjected to, the employees stormed the accounts department demanding to be refunded all the money they had contributed to the Saturnia Regna Pension Fund since 2017 when the scheme was imposed on them.

Insiders said that after the employees saw an article on the dual pension contribution they were making since Saturnia was imposed on them despite already being under the NAPSA, they demanded for an explanation from their management. The irate employees warned that if management did not cancel the Saturnia pension scheme, it will experience its first ever strike at the university.

“Top Management held a meeting and agreed with the contents of the article and is looking at ways of cancelling the Saturnia contract.

“This was after employees stormed the accounts department demanding to be refunded all their contributions to Saturnia,” the source said. Insiders said that after the employees saw an article on the dual pension contribution they were making since Saturnia was imposed on them despite already being under the NAPSA, they demanded for an explanation from their management.