The functions of the Authority vests in the Board, which is appointed by the Minister of Finance in accordance with the provisions of the Pension Scheme Regulation Act.  The Board comprises nine (9) Directors that are nominated from various institutions identified in the Amendment Act. Board of Directors hold office for a period of three (3) years and are eligible for re-appointment for a second term.

The current Board of Directors are Mr. Peter H. Banda-Board Chairperson (Expert Ministerial Appointment), Mrs. Dorothy Kahalawe Mbao (Zambia Institute of Chartered Accountants – ZICA), Mrs Edna Haccuma (Zambia Union of Financial Institutions and Allied Workers – ZUFIAW), Ms. Mercy Munoni (Ministry of Finance),  Mr. Francis Mwale (Ministry of Justice), Mr. Givens Muntengwa (Ministry of Labour and Social Security), Ms. Namwandi Ndhlovu (Bank of Zambia), Mr. Moffat Kauma (Zambia  Association of Chambers of Commerce and Industry – ZACCI); and Ms. Grace Samui (Zambia Federation of Employers – ZFE)