Zambia: When will the NAPSA exemption be implemented on an employee record?
The component will calculate as a statutory based on an employees age and will continue until the completion of the employees 60th year of age.
The NAPSA employee deduction and company contribution components will stop calculating when an employee reaches the legal retirement age.
Example, if a employee is 59 and will be 60 in April, the NAPSA contributions will continue to calculate until April of the same year. In April the NAPSA contributions will no longer trigger automatically as the employee has reached the legal retirement age.
From the age of 60 an employee has the option to continue to contribute towards the fund as the amendments to the Act above, allow for voluntary contributions while the employee remains employed.
To cater to the voluntary contributions after reaching the legal retirement age, the below note component can be added to the recurring screen to have the system continue to calculate automatically.
Please note only available on Premier and Master Editions.
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