Fri, 23 Feb 2018 07:57:13 +0000 By NATION REPORTER THE controversial multi-employer pension scheme Saturnia Regna Pension Trust Fund may not exist after all. A search at the Zambia Revenue Authority (ZRA) shows that the Trust does not exist and therefore has no Tax Payer Identification Number (TPIN) which is a mandatory requirement for all entities in the country whether they are Trusts or Limited Companies. No institution can operate without an identification from the ZRA. It is therefore not clear how the Pensions and Insurance Authority (PIA) has registered the fund and how indeed banks have been transacting with it. A search at the Patents and Companies Registration Agency (PACRA) revealed that a company named Saturnia Regna Pension Trust Limited existed. This was owned by African Life Financial Services Zambia Limited with 240, 000, 000 shares and Botswana Insurance Fund Management with 80, 000, 000 shares. But this is illegal. According to the […]
