Zambia: NAPSA Contribution Ceiling Increase 2023
The National Pension Scheme Authority is mandated to review the contribution ceiling and pension payments annually and adjust them in line with the change in the National Average Earnings (NAE). This is in accordance with Section 35 of the National Pension Scheme Act No 40 of 1996.
The National Pension Scheme Authority wishes to advise employers and the general public that the National Average Earnings (NAE) has increased from K6,109.00 in 2022 to K6,710.00 in 2023.
Accordingly, the contribution ceiling has increased from K24,436 in 2022 to K26,840.00. The contribution ceiling is the maximum amount upon which NAPSA deduction can be applied from the employee’s salary. Any amount beyond that is not subject to NAPSA contribution.