The board of directors of the Public Service Pension Fund (PSPF) should be dissolved and those involved in the gross misappropriation of funds meant for retirees punished, the Zambia Union of Financial and Allied Workers (ZUFIAW) has demanded.
ZUFIAW general secretary Chingati Msiska said his union shall not sit and watch a few members at the Pensions Fund misappropriate funds which are meant to pay those who worked for it.
He was reacting to the alleged syphoning and plunder of retirees’ monies amounting to K2.5 million by the PSPF board of directors last year alone through hefty sitting allowances, imprest and duty allowances.
Mr Msiska said the union would not rest until all the monies were properly accounted for.
Mr. Msiska challenged the board to explain how they had utilised the money, adding that it was wrong for it to have held over 70 board meetings, a move believed to be one of the ways through which it syphoned the resources.
“ZUFIAW is saddened by the revelation of retirees’ benefits plunder at the PSPF. As a union, representing workers, it is high time the money was accounted for properly.
“We call upon the relevant security wings to do a forensic audit and come up with the truth. The union is disgusted with the reported 71 board meetings in a year.
“Let the board and management come out clean on the matter and should anyone be found wanting, the law should take its course because there is no way the board can have so many meetings in a year in one institution. We therefore call upon the board to explain and give their position on the matter,” Mr. Msiska said.
He said it was annoying that the retirees who sweated for the money were struggling to get their benefits yet those who presided over their payments were enriching themselves using dubious means.
Mr Msiska called upon Government to scrutinise board members some of whom had allegedly overstayed at the institution and did not mean well for the poor retirees.
“We condemn the plunder because retirees are not paid on time while some people are busy enriching themselves. We urge the Government through the line ministry to scrutinise some of these board members who have overstayed and do not mean well.
“Whoever is found wanting should be flushed out. We will not sit by and watch a few members misappropriating our funds which are meant to pay those who have worked for it,” he said.