The National Pension Scheme

An Act to amend the National Pension Scheme Act
[14th August, 2015
ENACTED by the Parliament of Zambia. 1. This Act may be cited as the National Pension Scheme
(Amendment) Act, 2015, and shall be read as one with the National
Pension Scheme Act, in this Act referred to as the principal Act. 2. Section two of the principal Act is amended by the deletion
of the definition of “pensionable age” and the substitution therefor
of the following:
“pensionable age” means the age of sixty years;
3. Section nine of the principal Act is amended by the deletion
of paragraphs (a) and (b) of subsection (1) and the substitution
therefor of the following:
(a) retires from employment on attaining the pensionable age;
(b) retires five years—
(i) before attaining the pensionable age and has
contributed to the Scheme for a minimum period
prescribed by the Authority; or
(ii) after attaining the pensionable age; or
4. The principal Act is amended by the repeal of section
eighteen and the substitution therefor of the following:
18. (1) Subject to the provisions of this Act, a member
shall retire upon attaining pensionable age.

n and the substitution therefor of the following:
18. (1) Subject to the provisions of this Act, a member
shall retire upon attaining pensionable age.

(2) A member may retire on attaining the age of—
(a) fifty-five years if, twelve months before attaining
that age, the member notifies the contributing
employer of the member’s intention to retire at
that age; or
National Pension Scheme
(Amendment)
Short title
Cap. 256
Enactment
Amendment
of section 2
Amendment
of section 9
Repeal and
replacement
of section 18
[No. 7 of 2015 147
GOVERNMENT OF ZAMBIA
ACT
No. 7 of 2015
Date of Assent: 14th August, 2015
Single copies of this Act may be obtained from the Government Printer,
P.O. Box 30136, 10101 Lusaka, Price K2.00 each. Retirement
and
condition for
award of
retirement
pension

may be obtained from the Government Printer,
P.O. Box 30136, 10101 Lusaka, Price K2.00 each. Retirement
and
condition for
award of
retirement
pension

(b) sixty-five years if, twelve months before attaining
the pensionable age, the member notifies the
contributing employer of the member’s intention
to retire at the age of sixty-five years and the
employer approves the retirement.
(3) A member who retires in accordance with subsection (1)
or (2) and has made not less than one hundred and eighty monthly
contributions, shall be paid a pension.
5. Section fifty-three of the principal Act is amended in
subsection (2) by the—
(a) deletion of the word “and” at the end of paragraph (e);
(b) deletion of the full stop in paragraph (f) and the substitution
therefor of a semi-colon and the word “and”; and
(c) insertion, after paragraph (f) of the following new
paragraph:
(g) arrangements to ensure the protection of accrued
pension rights as provided for in the Constitution.
Amendment
of section 53
National Pension Scheme
(Amendment)148 No. 7 of 2015]
Cap. 1