Economist Chibinda Praises Pension Reform Act

The Pension Reform Act, recently signed into law by President Hakainde Hichilema, has won the backing of Livingstone-based economist Amos Chibinda, who has hailed it as a progressive measure with the potential to benefit the wider economy.

In an interview with ZNBC News, Mr Chibinda explained that the reforms should help stimulate economic activity by giving more people access to their pension benefits. The real value, he suggested, lies in how those benefits are used, with many recipients putting the money to productive use rather than spending it outright.

Real estate and small businesses are among the areas that tend to attract this kind of investment. According to Mr Chibinda, channelling pension funds into these sectors helps to nurture entrepreneurship, build wealth, and create employment. The knock-on effect, he added, is rising demand for both labour and services, which in turn supports economic expansion and lifts livelihoods.

Beyond the figures, Mr Chibinda sees the Act as a statement of intent. In his assessment, it shows a Government willing to strengthen social protection for its citizens while keeping economic growth firmly in focus, treating the two not as competing aims but as complementary ones.

Ultimately, he believes the reforms point to a wider truth: that looking after those who have spent a lifetime contributing to the nation can itself become a driver of prosperity, turning personal security into a foundation for national progress.