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President Hichilema has cautions pension funds against abusing workers contributions

President Hakainde Hichilema has cautioned pension funds against abusing workers contributions.

And the President says government remains consistent in reforming the Country’s pension system for the benefit of the workers.

Speaking when he graced this year’s Labour Day celebrations, President Hichilema said abusing pension funds to buy land and erecting buildings that yield less at the expense of other alternatives will not be allowed.

The Head of State said the reforms his administration will embark on will strive to address all the anomalies that have been taking place in the past that were perceived as normal in order to protect workers.

And President Hichilema said he will ensure that his campaign promise of allowing pensioners access to part of their money before retirement is actualized.

The theme for this year’s Labour Day is, “Accelerating Social Economic Transformation through Sustainable and Decent Job Creation Amidst COVID-19”

Speaking earlier, International Labour Organisation Country Director for Zambia, Malawi and Mozambique, Dr. George Okutho said the impact of the COVID-19 pandemic on the world of work has been beyond expectations, devastating and far-reaching.

Dr. Okutho said the pandemic caused losses in working hours translating into increased unemployment, inactivity and informality and has called on government to take actions that are inclusive, sustainable and resilient for a human-centered recovery from the COVID-19 crisis.

And Zambia Congress of Trade Unions President Chishimba Nkole has proposed for a balanced amendment to the National Health Insurance Scheme.

Meanwhile, Zambia Federation of Employers President Myra Ngoma implored government to put in place measurers that will urgently address the high cost of living.