The Public Service Pension Trust Fund (PSPTF) says it has registered an increase in asset value from K4 billion in 2017 to K340 billion by the end of last year.
This came out at PSPTF’s Annual General Meeting in Lilongwe.
James Kumwenda, PSPTF’s Board Chairperson, says the rise has been largely fuelled by an increase in membership since the organisation’s inception in 2017.
Ministry of Transport Desk Officer for Contributory Pension Scheme, McThomas Kapelemera however says the reluctance of members to upgrade nomination beneficiaries forms is a threat to claims and distribution of death benefits process.
Golden Nyasulu, Chief Economist in the Ministry of Finance and Economic Affairs, urged pension funds administrators in the country to compliment the government’s effort in infrastructure development to achieve the Malawi 2063.
PSPTF is a stand alone pension fund for all public servants who were born from 1 January 1982 onwards.
#MBCDigital
#Manthu
