| The Citizens Democratic Party P.O.Box 37277 Lusaka, Zambia. Tel: +260-975-642-011 Email: citizens@thecitizensdemocraticparty.com |
POWERED BY CITIZENS LIKE YOU.
| "Putting People First" |
| Draft Manifesto |
| Seventh Agenda |
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Ensure a sound and efficient retirement system, which will adequately take into account the time value of money. |
1. Employers’ inconsistent remittance of employees’ contributions to Pension Boards 2. Uncertain payment schedule of retirement benefits 3. Centralized function of the Pension Board’s claims department 4. No proper laws/guidelines that oversee the invested monies derived from pension remittances. |
1. Strictly enforce and legislate laws that compel employers to remit contributions in time to Pension Boards. 2. Pension boards will also be required to issue public and audited statements on money that is remitted and used in investment funds on a fixed schedule. 3. Strictly enforce laws that compel pension boards to issue and release funds to pensioners as scheduled. 4. Devolve Pension Boards’ claims department functions to provinces and districts to discontinue the current practice of pensioners traveling to Lusaka to pick up their pension checks. |
The Problem
| GOAL |
| The CDP Solution |
"Putting People First with dignified retirement"
For two decades, we have seen the dignity of our once dignified citizens eroded. The CDP has recognized the
failure of Zambia's current retirement system and will take strong measures to correct it. We have duly noted that the
Zambian retirement system lacks mainly in two aspects. First, it has failed to take into account the economics of
inflation, and (secondly) naturally the "time value" of money. This has resulted in retirement packages, which are not
in line with global economic conditions, which in turn has given our retirees "peanuts" for the years they put in their
work. As if this is not enough, our retirees are treated with little regard when they make claims on this same money. It
is saddening to see retirees treated as beggars for money they are simply entitled to.
The Citizens Democratic Party will immediately embark on pension reform to address the failures of our retirement
system using specialized Zambian professionals, other stakeholders and partners as required. The goal of this
particular plan is to ensure sound retirement for our retirees in the next twenty years.
For two decades, we have seen the dignity of our once dignified citizens eroded. The CDP has recognized the
failure of Zambia's current retirement system and will take strong measures to correct it. We have duly noted that the
Zambian retirement system lacks mainly in two aspects. First, it has failed to take into account the economics of
inflation, and (secondly) naturally the "time value" of money. This has resulted in retirement packages, which are not
in line with global economic conditions, which in turn has given our retirees "peanuts" for the years they put in their
work. As if this is not enough, our retirees are treated with little regard when they make claims on this same money. It
is saddening to see retirees treated as beggars for money they are simply entitled to.
The Citizens Democratic Party will immediately embark on pension reform to address the failures of our retirement
system using specialized Zambian professionals, other stakeholders and partners as required. The goal of this
particular plan is to ensure sound retirement for our retirees in the next twenty years.
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