Pensions in Zambia
Pension scheme administrators are responsible for managing day to day administration of the fund and also providing secretarial services. They are responsible for paying out benefits, keep scheme records and organize meetings for trustees. Fund managers have the duty to invest scheme funds on behalf of the trustees. Funds are invested in various instruments like government bonds, corporate bonds, property and fixed deposits. In Zambia most insurance companies are also pension fund managers. National Pension Scheme Authority administers the government scheme and are the custodian of the Zambian government social security scheme.