Proposed national pension fund could transform retirement industry
A proposed compulsory National Pension Fund could fundamentally reshape Namibia's retirement savings landscape, increase the cost of formal employment while redirecting billions of dollars in pension contributions, according to a new industry analysis of the proposed reform.
CHAMWE KAIRA
A proposed compulsory National Pension Fund could fundamentally reshape Namibia’s retirement savings landscape, increase the cost of formal employment while redirecting billions of dollars in pension contributions, according to a new industry analysis of the proposed reform.
The report examines the proposed introduction of a compulsory 15.9% payroll contribution under a defined-benefit pension scheme.
The contribution would be levied in addition to the existing 1.8% Social Security contribution and, depending on the final design, could create a fund valued between N$28 billion and N$87 billion within its first decade.
