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REVISION IN NAPSA CONTRIBUTION CEILING

Accounting and Business Consultants Ltd

6 Jan 2023

CHANGES TO NAPSA

REVISION IN NAPSA CONTRIBUTION CEILING

The National Pension Scheme Authority (NAPSA) has revised the maximum monthly deductible employee contribution amount for the year 2023 to K 1,342.00 (2022:1,159.40), which is 5% of the contribution ceiling.


This entails that the maximum monthly contribution payable by employers is K2,684.00 (2021: 2,443.60) constituting 5% employee share and 5% employer share. The above adjustment follows changes in the National Average Earnings (NAE) figure as computed by the Zambia Statistics Agency. The NAE figure for 2023 has increased to K6,710.00 from K 6,109.00 for 2022.


For purposes of making social security contributions to NAPSA, earnings refer to any benefit given by an employer in exchange for the employee’s service, including basic salary, allowances, bonuses, commission, severance pay, overtime allowance, leave allowance, commuted leave days and other allowances.

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