Minister's Message
Welcome to the Ministry of Labour and Social Security web site. In this site you will find copies of the Zambian labour laws and that programmes being undertaken by my Ministry. This site endevours to provide you with the necessary information concerning the Zambian labour sector. Enjoy your visit and we hope to hear from you.
Honourable Austin C Liato MP
Minister of Labour and Social Security
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SPEECH BY HON AUSTIN LIATO, MP, MINISTER OF LABOUR AND SOCIAL SECURITY DURING THE MEETING WITH BOARD MEMBERS AND SENIOR MANAGEMENT STAFF AT THE NATIONAL PENSION SCHEME AUTHORITY (NAPSA) ON 3 DECEMBER 2008 THE NAPSA BOARD CHAIRPERSONNAPSA BOARD MEMBERSTHE DIRECTOR GENERALSENIOR MANAGEMENT TEAMLADIES AND GENTLEMEN I AM PLEASED TODAY TO MEET WITH BOARD MEMBERS AND SENIOR MANAGEMENT STAFF OF THE NATIONAL PENSION SCHEME AUTHORITY (NAPSA). THIS MEETING HAS COME AT AN OPPORTUNE TIME FOLLOWING MY APPOINTMENT AS MINISTER RESPONSIBLE FOR LABOUR AND SOCIAL SECURITY. I HAVE BEEN BRIEFED THAT THE CURRENT BOARD HAS ONLY BEEN IN OFFICE FOR FOUR (4) MONTHS AND DURING THIS PERIOD YOU HAVE MANAGED TO IMPLEMENT VERY IMPORTANT PROGRAMMES THAT WILL BENEFIT THE MEMBERS OF THE SCHEME AND THE COUNTRY IN GENERAL. THE GOVERNMENT ATTACHES GREAT IMPORTANCE TO THE ROLE THAT THE NATIONAL PENSION SCHEME AUTHORITY PLAYS IN OVERSEEING IMPLEMENTATION OF GOVERNMENT’S POLICY OBJECTIVES ON SOCIAL SECURITY IN GENERAL AND PENSIONS IN PARTICULAR. AS TRUSTEES OF PENSION SCHEME, THIS PLACES AN ENORMOUS RESPONSIBILITY ON THE BOARD COLLECTIVELY AND ON YOU AS INDIVIDUAL MEMBERS OF THE BOARD TO ENSURE THAT GOVERNMENT POLICY AND OBJECTIVES ARE ACHIEVED. THE INSTITUTION HAS A NUMBER OF CHALLENGES NOT ONLY TO ENSURE PRUDENTIAL MANAGEMENT OF THE PUBLIC FUNDS BUT ALSO TO CONTRIBUTE TO NATIONAL DEVELOPMENT. NAPSA’s POSITION IN ZAMBIA’S FINANCIAL AND ECONOMIC ARCHITECTURE IS CRUCIAL FOR THE COUNTRY’S ECONOMIC GROWTH. AS A PENSION SCHEME, NAPSA ALSO PLAYS A VITAL ROLE IN POVERTY REDUCTION AND THEREBY CONTRIBUTING TO THE ACHIEVEMENT OF THE MILLENNIUM DEVELOPMENT GOALS (MDG). THE GOVERNMENT IS PLEASED THAT THE SCHEME IS CURRENTLY INVOLVED IN PROMOTING REAL ESTATE DEVELOPMENT THROUGH THE CONSTRUCTION OF COMMERCIAL AND RESIDENTIAL PROPERTY FOR THE CITIZENS. I FURTHER WISH TO EMPHASISE THAT SUCH INNOVATIVE INVESTMENT IDEAS ARE VERY NOBLE AND COMPLIMENT OUR DEVELOPMENT INITIATIVES. AS YOU MAY BE AWARE, THE 2005 LABOUR FORCE SURVEY REVEALED THAT 702,000 WORKERS OR 12 PERCENT OF THE LABOUR FORCE WERE WORKING IN THE FORMAL SECTOR, WHILE 3.4 MILLION OR 88 PERCENT OF THE LABOUR FORCE WERE ENGAGED IN THE INFORMAL SECTOR. OUR CHALLENGE THEREFORE AS PENSION SCHEMES TO EXTEND COVERAGE TO THE MAJORITY WORKERS IN THE INFORMAL ECONOMY. AS YOU AWARE MY MINISTRY IN COLLABORATION WITH THE CENTRAL STATISTICAL OFFICE ARE PRESENTLY IN THE FIELD COLLECTING DATA FOR THE 2008 LABOUR FORCE SURVEY. WE THEREFORE EXPECT THAT OUR POLICY RESPONSE WITH REGARD TO DEVELOPING THE INFORMAL ECONOMY WILL BE BACKED BY EVIDENCE BASED APPROACH. I AM FURTHER PLEASED TO NOTE THAT BETWEEN 2005 AND 2007 THE MEMBERSHIP LEVELS IN THE NAPSA PENSION SCHEME HAVE INCREASED FROM 380,000 MEMBERS TO OVER 850,000 MEMBERS. THIS IS A POSITIVE DEVELOPMENT THAT TESTIFIES OF THE SCHEME’S RESOLVE TO CAPTURE AND BROADEN ITS MEMBERSHIP BASE. THE REGISTRATION OF NEW EMPLOYERS IN THE MINING, TOURISM AND SERVICE SECTORS HAS HAD A POSTIVE IMPACT ON THE REVISED COVERAGE LEVELS. THIS HAS FURTHER RESULTED IN NAPSA GROWING ITS INVESTMENT PORTFOLIO TO K 2 TRILLION. AS THE ZAMBIA SEEKS TO ACHIEVE THE 2030 VISION OF BEING A MIDDLE INCOME COUNTRY, ALL STAKEHOLDERS SHOULD PLAY THEIR PART IN ENSURING THAT THIS VISION IS REALISED IN ACCORDANCE WITH THE THEME IN THE FIFTH NATIONAL DEVELOPMENT PROGRAMME – WHICH IS WEALTH AND JOB CREATION THROUGH CITIZENRY PARTICIPATION. THE DEVELOPMENT OF A MEASURABLE INSTRUMENT SUCH AS SCORECARDS IS NECESSARY IN THIS REGARD IF WE ARE TO MONITOR OUR PERFORMANCE AS STAKEHOLDERS. MR CHAIRPERSON - IT IS CLEAR THAT OUR CHALLENGES ARE HUGE AND THERE IS AN URGENT NEED TO EVOKE MECHANISMS THAT WOULD FURTHER INCREASE COVERAGE TO THE DIFFERENT LEVELS OF INFORMALITY IN THE ECONOMY. THERE IS ALSO NEED TO STRENGTHEN OUR REGULATIONS AND POLICY WITH REGARD TO COMPLIANCE LEVELS. FURTHER TO THE ABOVE, I WOULD URGE THE BOARD AND MANAGEMENT TO VIGORIOUSLY IMPLEMENT THE NAPSA STRATEGIC PLAN WHOSE EMPHASIS SHOULD INHCLUDE THE FOLLOWING: · IMPROVEMENT OF BENEFITS FOR PENSIONERS. · IMPROVED EFFICIENCY IN THE DELIVERY OF COMPENSATION BENEFITS.· REDUCING THE HIGH ADMINISTRATIVE EXPENSES.· TIMELY PRESENTATION OF STATUTORY REPORTS AS PRESCRIBED IN NATIONAL PENSION SCHEME ACT.· IMPROVEMENT OF THE FUNDS INVESTMENT PORTFOLIO.· INCREASED SOCIAL SECURITY COVERAGE.· INCREASED COMPLIANCE LEVELS. IN ORDER TO ENSURE THAT THE ABOVE MILESTONES ARE ACHIEVED, THE BOARD SHALL BE RESPONSIBLE FOR PROVIDING GUIDANCE TO MANAGEMENT FOR THEM TO EFFECTIVELY ADMINSITER THE ACT AND THE FUND. MY MINISTRY SHALL ALWAYS BE AVAILABLE AT POLICY LEVEL TO PROVIDE STRATEGIC GUIDANCE ON ISSUES THAT WOULD FURTHER ENHANCE THE EFFICIENCY AND EFFECTIVENESS OF THE SCHEME. MR. CHAIRPERSON, BOARD MEMBERS, DIRECTOR – GENERAL AND YOUR MANAGEMENT TEAM, ALLOW ME TO STATE, IN MY CONCLUSION, THAT IF WE COOPERATE AND WORK IN UNISON, I AM SURE THAT WE WILL ACHIEVE AND EXCEED THE OBJECTIVES OF THE AUTHORITY IN LINE WITH GOVERNMENT’S POLICY. I WISH TO STATE ONCE MORE THAT I AM PLEASED TO BE PART OF THE TEAM THAT WILL CONTRIBUTE TO THE WELL BEING OF OUR PEOPLE. I LOOK FORWARD TO YOUR CONTRUCTIVE DELIBERATIONS DURING THIS MEETING. I THANK YOU.
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