The Public Service Pension Trust Fund (PSPTF) has launched its 2023-2027 Strategic Plan, marking a significant milestone in securing the financial future of Malawi’s public servants.
Speaking during the launch in Lilongwe, Director of Economic Planning and Development in the Ministry of Finance, Adwell Zembere, emphasised government’s commitment to the Pension Act 2023, which ensures all public servants retire with dignity and financial security.
“Our obligation towards members of the fund is not only legal but also moral,” Zembere said, highlighting the growth and development of the PSPTF from K4 billion on its inception in 2017 to K349 billion presently.
Zembere concluded by pledging continued government support for the successful implementation of the strategic plan.
In his remarks, PSPTF’s Board of Trustees Chairperson, James Kumwenda, expressed pride in the fund’s achievements and future plans. He noted the fund’s success in financial management and growth, ensuring sustainable returns.
“Our investment strategies have delivered impressive returns that will continue to benefit our members and their beneficiaries,” said Kumwenda.
He also acknowledged the challenges ahead, such as settling past service liabilities and delayed employer remittances.
The event underscored the PSPTF’s role in contributing to Malawi’s economic development through prudent investments. As Kumwenda put it, “The PSPTF is more than a pension fund; it is a symbol of our commitment to public service and the well-being of our members.”
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