Pensions

Comprehensive pension regulation and supervision to ensure retirement security for all Zambian workers through effective oversight of pension schemes.

Pension System in Zambia

The Zambian pension system is designed to provide income security in retirement through a combination of mandatory and voluntary pension schemes. Our role is to regulate and supervise these schemes to ensure they meet their obligations to members.

1

National Pension Scheme Authority (NAPSA)

Mandatory social security scheme for formal sector workers.

2

Occupational Pension Schemes

Employer-sponsored schemes for private and public sector employees.

3

Personal Pension Schemes

Individual retirement savings plans for self-employed and informal workers.

Pension Security

Licensing Requirements

All pension scheme operators must meet stringent licensing requirements to ensure they can effectively manage retirement savings.

Capital Requirements

  • • Minimum paid-up capital of K5 million
  • • Professional indemnity insurance
  • • Fidelity insurance coverage
  • • Adequate financial resources

Professional Standards

  • • Qualified pension fund administrators
  • • Actuarial expertise requirements
  • • Investment management capabilities
  • • Risk management systems

Governance Structure

  • • Board of directors with relevant experience
  • • Independent audit committee
  • • Clear organizational structure
  • • Conflict of interest policies

Operational Requirements

  • • Robust IT systems and infrastructure
  • • Member record keeping capabilities
  • • Business continuity plans
  • • Internal control systems

Application Process

  • • Submit comprehensive application
  • • Provide supporting documentation
  • • Undergo due diligence process
  • • Obtain regulatory approval

Ongoing Obligations

  • • Regular reporting requirements
  • • Annual license renewal
  • • Compliance monitoring
  • • Continuous professional development

Licensing Forms & Documents

Access all necessary forms and documentation required for pension scheme licensing.

Application Form

Complete application form for pension scheme licensing.

Checklist

Required documents and information checklist.

Guidelines

Comprehensive licensing guidelines and procedures.

Fee Schedule

Current fee schedule for licensing and renewals.

Renewal Form

Annual license renewal application form.

Regulations

Pension scheme regulations and legal framework.

Licensed Pension Entities

View the complete list of licensed pension scheme administrators and managers in Zambia.

ZS

ZamPension Administrators

Licensed Administrator

License No: PA/001/2020

Effective Date: 15/03/2020

Status: Active

PS

Professional Pension Schemes

Licensed Manager

License No: PM/002/2019

Effective Date: 22/07/2019

Status: Active

RP

Retirement Planners Zambia

Licensed Administrator

License No: PA/003/2021

Effective Date: 10/11/2021

Status: Active

FP

Future Pension Solutions

Licensed Manager

License No: PM/004/2020

Effective Date: 05/05/2020

Status: Active

NP

National Pension Trust

Licensed Administrator

License No: PA/005/2018

Effective Date: 18/09/2018

Status: Active

CP

Corporate Pension Services

Licensed Manager

License No: PM/006/2022

Effective Date: 12/01/2022

Status: Active

Pension Sector Statistics

Key performance indicators for the Zambian pension sector.

K45B
Total Assets
850K
Active Members
25
Licensed Schemes
12%
Average Return