FOR IMMEDIATE RELEASE
WITH PICTURE
JUNE 8, 2022

PLAN AHEAD FOR RETIREMENT, URGES SATURNIA

LUSAKA, ZAMBIA – Saturnia Regna Pension Fund, which is Zambia’s largest private pension fund, has called for public sensitisation on the importance of pensions and retirement funds after noting the poor levels of awareness on the topic.

“A good pension fund is the financial key to a comfortable retirement in old age, and so more people – both employed and self-employed – need to start setting aside a little of their income now to plan ahead for their future,” said Saturnia Regna Board of Trustees Chairperson Collins M Hamusonde.

“The country has neglected the topic of pensions because most people do not view them as long-term investment options,” he added.

“Today we are seeing more people opt for traditional forms of investment as their only means of saving. Although this in itself is not a problem, what is concerning is the lack of adequate education on financial security, leaving many not saving enough to afford a reasonable standard of living at the end of their career.”

Mr Hamusonde urged members of the public not to shun the topic of pension because it was an important issue that would help them prepare for their lives after retirement.

“Most of us will depend on our pension to have a respectable life after we get our last paychecks. But if we are not planning now, we will not be able to sustain ourselves long enough and may end up complaining of bankruptcy shortly after retiring,” he added.

The Chairperson further said there was also a need to educate people on the importance of joining private pension schemes, as they supplement the basic pension earned from state schemes such as the National Pension Scheme, and provide a diversified investment portfolio which further minimizes the risk of not earning sufficient pension.

“One of the biggest advantages private pension funds have over other investment options is that they act as a buffer against unforeseen tragedies like a sudden loss of income,” he said.

“The best part about private pension funds is that they are a secure investment option because they have a lock and key system that helps people manage and secure their finances. They provide you with a platform where you can keep your money in a disciplined way, with restrictions on accessing it until the right time.”

Mr Hamusonde called on key sector players to do more in ensuring the public had access to information on pension schemes and retirement planning that would help them make better financial decisions.

The Saturnia Regna Pension Fund earned its member a twenty-three point seven percent (23.7%) gross investment return last year, helping it retain its position as the nation’s largest private pension fund.

Net assets stood at K2.961 billion at the end of the year, with an extra nine new employers joining the fund during the year, bringing the total sponsorship to 200 members encompassing a combined 36,130 employees.

The fund also posted a twenty point four percent (20.4%) appreciable return for the year ended December 31, 2021 – one of the largest bonus declarations in recent years.

-Ends-

About Saturnia Regna Pension Fund
The Saturnia Regna Pension Fund is Zambia’s largest private pension fund, providing pension plans to employees at 200 corporates covering more than 36,130 employees.
The fund manages K3 billion of net assets including shares in most of the companies listed on the Lusaka Securities Exchange (LuSE) and investments in Zambian Government Treasuries.

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