The Pensions and Insurance Authority (PIA) is the regulatory and supervisory body for the pensions and insurance industries in Zambia. The Authority falls under the Ministry of Finance and derives its mandate from the Pension Scheme Regulation Act No 28 of 1996 (amended by Act No. 27 of 2005) and the Insurance Act No. 27 of 1997.
The functions of the Authority vests in the Board which is appointed by the Minister of Finance in accordance with the provisions of Act. The Board comprises 9 members that are nominated from various institutions identified in the Amendment Act.
As required under the Pension Scheme Regulation Act the Board appoints the Registrar, who is the Chief Executive Officer of the Authority. The Board also appoints the two Deputy Registrars, the Board Secretary and other members of staff.
“A model pensions and insurance industries regulator.”
“To effectively regulate, supervise and promote development of the pensions and insurance industries in order to protect the interests of pension scheme members and insurance policyholders.”
I C PIA
Integrity – We work with honesty and uphold ethical standards at all times.
Collaboration – We support and partner with our stakeholders to effectively attain collective goals by leveraging each other’s strengths. This enables us to foster long lasting relationships within and beyond the pensions and insurance industries.
Professionalism – We pride ourselves on being knowledgeable and courteous as we deliver high quality work outcomes in a timely manner.
Innovation – As a regulatory Authority, we embrace creativity and strive for efficacy by enabling the development of new products, services, and systems. We endeavour to evolve and proactively respond to the changing needs of our customers.
Accountability – We accept the consequences of our decisions and actions.