4024 firms to be deleted off pension roll

According to Treasury spokesperson, Williams Banda, there are 4,024 pensioners who will be deleted from the pension roll if they do not verify with the government by 30^th June this year.

The above follows after a statement issued by Treasury recently indicated that the Government Pension Payroll contains 37,984 pensioners, of which 33,960 pensioners were physically verified.

However, the Treasury Spokesperson said that pensioners have recently been showing up for verification so the number may decrease by the end of the deadline. “The figure for those who did not avail themselves might reduce because it could be that they are in the diaspora.” said Banda.

By the end of 2019, outstanding pension contributions rose from K13.1 billion in 2018, to K20 billion, according to the 2019 Financial Institutions Supervision Report by the Reserve Bank of Malawi.

In July last year, RBM released a statement, threatening to name and shame the companies that hadn’t settled their pension areas.

Later in September, the Registrar of Financial Solutions, Dalitso Kabambe, released a list of companies with arrears; some of the named firms that are yet to remit hundreds of millions in pension.