Wed, 14 Feb 2018 07:51:00 +0000 By NATION REPORTER Government must immediately seize the local and offshore assets of Saturnia Pension Scheme to safeguard the interests of over 34,000 Zambians who subscribe to the scheme, until the status of the entire scheme was settled, Trustees have said. They have called on investigative wings including the Zambia Revenue Authority to probe how tax free pension contributions from workers were channeled into a private company called Saturnia Regina Pension Trust Limited owned by African Life Financial Services Zambia Limited with 240,000,000 shares, Botswana Insurance Fund Management with 80,000,000 shares, Sanjeev Gupta with 5,000 shares and Munakupya Hantuba with 5,000 shares. This contradicted a statement made by the Registrar at Pensions and Insurances Authority (PIA) Martin Libinga who yesterday maintained that Saturnia was registered by his authority as a Trust. The Trustees were further shocked to discover that member’s pension contributions were going into bank accounts belonging to: […]
