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About PIA

The Pensions and Insurance Authority (PIA) is the regulatory and supervisory body for the pensions and insurance industry in Zambia. The Authority falls under the Ministry of Finance and derives its mandate from the Pension Scheme Regulation Act No 28 of 1996 (amended by Act No. 27 of 2005) and the Insurance Act No. 27 of 1997.

 

The functions of the Authority vests in the Board which is appointed by the Minister of Finance in accordance with the provisions of Act.  The Board comprises 9 members that are nominated from various institutions identified in the Amendment Act.

 

As required under the Pension Scheme Regulation Act the Board appoints the Registrar, who is the Chief Executive Officer of the Authority. The Board also appoints the two Deputy Registrars, the Board Secretary and other members of staff.

Vision

“To be a world class pensions and insurance financial services supervisor”

Mission Statement

Our mission is “To regulate and supervise the conduct of the pensions and insurance industry in order to protect the interests of pension scheme members and insurance policyholders and foster the industry’s growth, development and stability.”

Our Values

The Authority’s staff endeavour at all times to uphold the following values:

  • Integrity
  • Transparency and accountability
  • Proficiency in quality service delivery
  • Equal opportunity
  • Team work and partnership
  • Environment consciousness