SATURNIA RECORDS INCREASE IN CORPORATE MEMBERSHIP

FOR IMMEDIATE RELEASE
WITH PICTURES
MAY 24, 2021

LUSAKA, ZAMBIA – Growing confidence in private pension schemes has resulted in an increase in the number of corporates joining such funds, according to Zambia’s largest private pension fund, Saturnia Regna.

The pension fund’s corporate member base increased by 11 percent to 195 companies in 2020, up from 175 members in 2019, while the number of employees in those organisations covered by the fund grew by 6 percent to 34,527 employees during the year.

“This rise in corporate members can be attributed to an increased awareness of the importance of a reliable, trustworthy fund giving good returns and demonstrating long-term commitment,” said Bryson Hamanzuka, Chief Executive of Benefits Consulting Services, which administers the fund.

“As an independent entity with ambitious aspirations and a clear, stronger focus in Zambia, we have seen the need for a pension fund with a distinctive customer value proposition,” he said.

Mr Hamanzuka added that Saturnia Regna was proud to be Zambia’s largest and most reputable, recognisable and reliable financial services brand. Over the 29 years of its existence, the private pension fund has gained vast experience and demonstrated resilience and foresight in adapting to meet the evolving needs of members and the local market.

He also praised the fund’s Board of Trustees, which comprises representatives of corporate members, and commended them on overseeing the strict adherence to corporate governance practices that have reinforced the fund’s growth.

Saturnia remains the largest multi-employer pension fund in Zambia and the most well diversified fund with assets of K3 billion invested in shares on the Lusaka Securities Exchange (LuSE), Zambian Government securities, property, corporate bonds and loans, and fixed-term deposits. It paid out K288 million in pensions to retired employees during the year.

Members include the pension funds of many of the biggest name employers in the country, including British American Tobacco, DHL International, First National Bank Zambia, Investrust Bank, Lumwana Mining, the Lusaka Stock Exchange, Mopani Copper Mines, National Milling, the Patents and Companies Registration Agency (PACRA), Taj Pamodzi and World Vision.

Ends

About Saturnia Regna Pension Fund

The Saturnia Regna Pension Fund is Zambia’s largest private pension fund, providing pension plans to employees at 195 corporates covering more than 34,500 employees.

The fund manages K3 billion of net assets including shares in most of the companies listed on the Lusaka Securities Exchange (LuSE) and investments in Zambian Government Treasuries.

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Gillian Langmead at Langmead & Baker Ltd

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