PENSION FUNDS BUREAUCRACY IRKS NUMAW

WORKERS have been re- luctant, while others have lost confidence in saving with some pension schemes because of the bureaucra cy involved when it comes

which reduces them to beg- gars, the National Union of Miners and Allied Workers (NUMAW) has said

NUMAW National

apart from bureaucracy in- volved when accessing their funds, some pension schemes were offering low interest rates which were not. proportion- al to the contribution of the workers.

Mr Simujika was react- ing to President Hakainde Hichilema’s speech during the Labour Day Celebration in Lusaka that Government wanted pension funds to be put to good use as well as help the workers access part of their money to invest in business and build homes for

Mr Simujika said govern- ment should expedite the en- actment and implementation

the workers could start bene-

“We agree with the projects, resulting into paying reforms should take place to to pay the workers who con- from their savings while they are still working to help them “Pensions houses must look to plan for themselves and for projects which will grow their children. the pensions and pay the

workers contributions hand-

that the workers are not ben- somely on time , instead of efiting from their investment struggling to pay peanuts to

funds. No, they are not ben- he said efiting because the growth He said, to make matters of their investment is not as expected because some of the have very irritating bureau- fund or schemes have not been cracy which takes long for the in vesting in viable project,’’ workers to access their money

to the extent where they start

Mr Simujika said some looking as if they were begging pension schemes or funds from the institution.