Timothy
Public Service, Labour and Social Welfare Minister, Professor Paul Mavima, on Tuesday dissolved the National Social Security Authority (NSSA) board half way through its tenure.
The board, chaired by Dr Cuthbert Chidoori, was appointed by then labour minister, Dr Sekai Nzenza in February 2019.
Prof Mavima said the move was in line with the re-organisation of the pension fund “to respond to emerging issues in the world of work and align its mandate with the national development agenda.”
“Accordingly, the NSSA Board has been dissolved with immediate effect to pave way for this transformation,” he said.
Without giving names, Prof Mavima said a three-member interim board will oversee the administration of NSSA until a new substantive board is appointed.
The scandal ridden pension fund, has on many occasions been accused of abusing pensioners fund by making poor investment choices that have resulted in it losing money while at the same time paying its supposed beneficiaries a pittance in monthly benefits.
The Chidoori led board had promised to deliver a new culture of good corporate governance at the institution but has had its lifespan cut short without seeing through its promises.
Online Reporter