ALL EMPLYERS TO CONTRIBUTE TO NAPSA TO AVOLD PENALTIES

 By Daily News Reporter

"The Waiver will apply to all the penalties incurred prior to and after the enactment of the National pension Scheme Regulations for 2024," Muyangwa 

On 8th January 2024 the Minister of Labour and Social Security Hon. Brenda Tambatamba signed the law the National Pension Scheme Penalty Waiver Regulations of 2024 which will promote investment and job creation through the reeducation of the cost of doing business.

Speaking to the media in Lusaka NAPSA Director General Mr. Muyangwa Muyangwa said that the Waiver will provide financial relief to employers by offering an opportunity to settle outstanding contributions without the fear of facing penalties,

"Employers wishing to access the penalty waiver must pay all the outstanding principles contributions," Muyangwa said.

He further urged the employers to seize this opportunity and regularize their statutory contributions payments with the scheme for them to benefit from the relief and avoid court action that NAPSA will institute to the recover of the debt after the lapse of the penalty waiver provisions.

And NAPSA  so far has paid partial withdraw K9.2 billion against the target of K11 Billion and the outstanding penalty waiver is 31.1 Billion.