By Dean Chisambo
The Public Service Trust Fund has launched its strategic plan from 2023 to 2027 which outlines their aspirations and the goals that they want to do in the next five years.
In his sentiment during the launch on Thursday in Lilongwe PSPTF board chairman James Kumwenda said they have set some targets interms of investment priorities that they want to have and the sector which they want to invest in.
He also disclosed that there are some targets as far as distribution of benefits to the members and also members families saying in case they lose a member how quick they are supposed to do to those and how efficient they are supposed to be in the plan.
Kumwenda stated that interms of investment they are guided by the investment policy and also directive from the regulator.
He said : ” we do not just invest anyhow, currently we are mostly in financial markets, we have the securities, the government securities, the equities but we are also allowed to invest in property and any alternative investment.”
Kumwenda revealed that they have invested in Macademia farm along Mchinjo road , Ekwendeni farm in Mzimba and they are developing in multipurpose building in Blantyre which will be a hotel and multipurpose building.
Kumwenda said : ” there are various investments that we are doing in this plan, there are some of the investments that we want to increase their portfolios or others based on regulations from the regulator. We need to be within the exposure limit that the regulations allow us to be.”
He lamented that their investment strategies have not ensured the sustainability of the fund only but also delivered impressive returns that are and will continue to benefit their members and beneficiaries, through prudent management and strategic planning saying they have built a robust financial foundation that secures the future of our members and their beneficiaries.
Kumwenda added that other significant accomplishments have been fostering a culture of transparency and accountability they prioritise open communication and engagement with their members ensuring that they are well informed and confident in the management of their pension fund.
In his remarks deputy director of economic planning in the ministry of finance and economic affairs Adwell Zembele said pension is a framework which would want to ensure that the pensioners have a bright future.
He said:” the pension funds which they are investing in productive sectors of the economy to ensure that the pensioners when they will going to retire in coming years have invested their contributions.”
Zembele lamented that the government are facing a lot of challenges especially in fiscal space which contribute to delays to pay the pensioners but they are committed to ensure that all the aliars are limited to the pension fund.
He urged the management and the board of PSFTF to remain vigilant because the public servants dedicated their lives to the service of the nation saying they deserve the assurance that their contributions to the pension fund will be managed prudently and ethically obligation towards members of the fund is not only legal but also moral.
Government initiated a pension scheme in 2017 to make sure that pensioners should invest their funds.
