Napsa Urges Youths to Start Planning for Their Retirement Early

As Zambia commemorates National Youth Day and the upcoming Finacial Literacy Week, the National Pension Scheme Authority (NAPSA) has kicked off a series of nationwide sensitizations of youths at selected higher institutions of learning across the country about the importance of planning for retirement early. This initiative is in recognition of the crucial role young people play in shaping the country’s future. This year NAPSA is focusing on sensitizing students about the significance of social security in securing their financial well-being because it is impportant for them to know that securing the future starts with the first income.

The campaign kicked off in Mongu at the Mongu School of Nursing, targeting final-year students.

Speaking during the seminar, Simuwana Mudenda, NAPSA Regional Manager – South, underscored the importance of financial literacy and social security, outlining the services and products offered by NAPSA. He highlighted that NAPSA is not only a pillar for individual financial security but also a key driver of Zambia’s economic growth through its investment initiatives.

“It is important to inderstand that social security is not just about planning for retirement, it is also about having a peace of mind today knowing that one is financially secured and building a stronger, more stable economy. By embracing social security early in your career, you empower yourselves to make informed financial decisions that will benefit both you and the nation,” Mudenda stated.

He encouraged students to view social security as an essential component of their professional journey, stressing that the contributions they make during their working years will ultimately determine their quality of life in retirement.

Mr. Vincent Muhango, Senior Principal Lecturer at Mongu School of Nursing, expressed gratitude to NAPSA for selecting their institution for this important awareness initiative.

“As a school, we are honoured that NAPSA chose to engage with our students. The knowledge imparted today will be invaluable in guiding them towards making sound financial and social security decisions as they transition into the workforce,” Phiri remarked.

Mongu School of Nursing has a total number of 700 students with 190 in their final year.