Thu, 11 May 2017 11:49:04 +0000 By Nation Reporter The retirement benefits of more than 29,000 employees are at stake following a power struggle that has erupted in Zambia’s largest private pension fund, the Saturnia Regna Pension Trust Fund. The struggle is between the trustees elected by the representative institutions of the fund and the companies appointed to manage the funds on behalf of the trustees. The managing companies, Benefits Consulting Services Limited and African Life Financial Services Limited, which are owned by Menel Management Limited whose shareholders are Hakainde Hichilema, Munakupya Hantuba, and Valentine Chitalu, sought to remove the elected board of trustees through a court injunction which has now been thrown out by the Lusaka High Court. The injunction had restrained the fund board of trustees from performing their duties. But in a ruling delivered last week, Lusaka High Court Judge Ms. Justice Irene Zeko Mbewe dismissed the injunction because of failure […]
