Zambia reaffirms pension system reform commitment
Government aims to expand coverage, strengthen oversight, and improve retirement income security for informal sector workers.
Zambia's government has recommitted to reforming the national pension system to broaden its reach, enhance regulatory control, and secure retirement incomes, especially for informal sector employees. Ministry of Labour and Social Security Secretary Zachariah Luhanga stated at the 2026 Annual Pension Conference that these reforms are vital for protecting member contributions, increasing benefits, and enabling pension funds to support economic development.
Mr. Luhanga emphasized that a sustainable pension system must safeguard members' savings, provide adequate retirement income, and assist families in old age, describing pensions as recognition of workers' service and sacrifice. He also noted that pension funds can invest capital in productive sectors like infrastructure, housing, and capital markets, contributing to national economic growth.
The Permanent Secretary highlighted ongoing legislative efforts to improve the pension system and identified digital technology as a key tool for modernizing administration, cutting costs, and improving information access. He stated that success is measured by the system's ability to protect members, deliver adequate benefits, and reach those most in need.
Why it mattersZambian workers, particularly those in the informal sector, will benefit from improved pension coverage and security.