National Pension Scheme Authority – NAPSA, the state owned pension fund has rubbished media overtones by the Africa Confidential on an article published on 03 May, dubbed the ‘Treasury in Red’ that allegedly accused the fund of funding the February public sector wage bill.
In a press release dated 03 May, The Office of the Director General dispelled the allegations carried by the Africa Confidential stating that the fund has well structured, legally established channels and procedures used to manage the affairs of the authority on behalf of its members.
“We make reference to the article purported to have been published in the Africa Confidential website and cited by social media and other publications, in which it is alleged that …. in March the government raided the state pension fund to pay overdue February salaries for public service employees.”
NAPSA urged members of the public to ignore the media overtone and treat it as fake news.
Africa’s copper producer grappled with delayed wages for public sector employees in the month of February which it has since settled. On 01 May during Labor day celebrations, Head of State Mr Edgar Lungu committed to ensuring that wages are settled on time going forward.