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BACKGROUND
Pensions and Insurance Authority is a regulatory and supervisory authority
for pensions and insurance industry in Zambia. It was established in
February 1997 and draws its authority from the Pension Scheme Regulation Act
No. 28 of 1996 and the Insurance Act No. 27 of 1997.
Reporting to the Minister
of Finance and National Planning, The Registrar, is the chief executive of
the institution. To assist the Registrar and heading the technical
departments are two deputies. Deputy Registrar – Insurance and Deputy
Registrar – Pensions. Each of the Deputy Registrar heads an inspectorate
wing comprising of three people, a senior Inspector and two Inspectors.
Other supporting staff reporting directly to the Registrar is the Finance
and administration Manager and the Legal Counsel.
MISSION STATEMENT
To regulate the conduct of the pensions and insurance industry through
prudential supervision in order to protect the interests of pension scheme
members and insurance policy holders and foster the industry’s growth,
development and stability.
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