News

Local Government pensioners begin to receive benefits

NKOMBO KACHEMBA, Kitwe
THE Local Authorities Superannuation Fund (LASF) has started disbursing the K150 million Government recently released to settle the debt owed to retirees in unpaid benefits.

Government last month released K150 million to begin dismantling a K390 million debt it owes retirees in unpaid benefits.
LASF public relations manager Chishimba Milongo said in an interview yesterday that the retirees have since started receiving the money, which is being deposited in their respective accounts.
Mr Milongo said all the 14,000 retirees will have a share of the K150 million to ensure no one is disadvantaged in the process of disbursing the funds.
He said out of the 3,800 retirees that are expecting a lump sum, only 1,800 will be paid in full, while others will get K750 each as annuity.
“We have actually started depositing the money into the accounts of our retirees. We don’t want them to be travelling to Lusaka to get the money because of transport and logistical challenges,” he said.
Mr Milongo said LASF will ensure there is equity and fairness in the disbursement of the funds for all retirees.
He said LASF is using the first-in-first- out method of payment to ensure those retirees that submitted their papers earlier are considered first.
“When someone brings in the papers today, they should not expect us to pay them first. We want to ensure there is equity and fairness in the disbursement of the funds,” Mr Milongo said.
He commended Government for releasing the K150 million to pay retirees, which he said will go a long way in alleviating their sufferings.
Mr Milongo is hopeful that Government will release more funds to settle the remaining debt so that the retirees can live a decent life.

 


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