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Some Facts on Contributions and Benefits under NAPSA

  1. Three benefits – Retirement, Invalidity, and Survivors will be provided. These pensions will be paid until the death of a member.
  2. A Lump sum funeral grant will be paid to the next of kin in case of death of a member.
  3. NAPSA shall review pension rates annually and adjust them in line with increases in National Average Earnings.
  4. Pensioners will collect monthly pension from financial institutions of their choice preferably banks or other administrative facilities by the Authority for convenience of pensioners.
Provision of a minimum pension calculated at 20% of National Average Earnings. For the year 2010 the minimum pension is K434, 742.60.
Automatic annual adjustment of pension payments with respect to changes in the National average earning figures.

Provision of funeral grant to family members of the deceased member who has made at least 12 monthly contributions during the 36 months immediately preceding his/her death. The funeral grant is 10 x minimum pension and the amount payable this year is K4, 347,426.00.

A member who is covered under the ZNPF may convert contributions under ZNPF to months of pensionable employment under NAPSA to enhance the monthly pension.

Lump sum benefits are subjected to compensation for loss of value through the indexation of the contributions.