As Zambia’s celebrates its 60th anniversary of independence, we reflect on the remarkable journey of our nation. From the early days of independence to the present, Zambia has made significant strides in various sectors including governance, infrastructure, education, and healthcare. One of the standout achievements in this journey has been the story of the Local Authorities Superannuation Fund (LASF), which has played a crucial role in securing the future of its members.

A Legacy of Commitment and Service

LASF was established in 1954, 10 years before Zambia gained independence. Initially created to provide retirement benefits to expatriate officers, the scheme was soon extended to include all permanent officers and employees of Local Authorities. This move was a testament to the newly independent Zambian government’s commitment to ensuring the welfare of its citizens.

Over the years, LASF has evolved to meet the changing needs of its members. Today, LASF provides financial security to thousands of retirees and their families. The scheme’s success reflects the dedication and hard work of the many individuals who have contributed to its growth and development over the years.

Enhancing Member Benefits

At the heart of LASF’s success is its commitment to providing meaningful benefits to its members. The scheme offers a range of benefits, including retirement pensions, lump-sum payments and death benefits. These benefits are designed to provide financial security to members and their families, ensuring that they can enjoy a comfortable retirement.

In addition to the core benefits, LASF has introduced several initiatives to enhance the overall member experience. These include the introduction of the salary backed loans which the Fund extends to employees from member associations such as Zesco and Lusaka Water Supply and Sanitation Council (LWSSC), The Fund is considering extending this facility to employees of the Local Authorities.

LASF has also continued to engage members in order to enhance information assimilation and has also launched educational programs to help members understand their benefits and make informed decisions about their retirement planning.

Supporting Local Authorities

LASF’s success is not just bout providing benefits to individual members, the Fund also plays a vital role in supporting Local Authorities across Zambia by designing flexible and user-friendly payment plans which ensure that the Local Authorities are able to dismantle their outstanding debt within a reasonable period, while servicing the current obligations in the manner that does not exert undue pressure on the Local Authorities.

Further, the Fund interacts closely with the Local Authorities through the Local Government Association of Zambia by sponsoring various activities such as the Annual Local Government Awards.

Corporate Social Responsibility

LASF engages in Corporate Social Responsibility activities by supporting various needy areas of society, with most of the activities targeted among its immediate stakeholder community.

A Vision for the Future

As we celebrate Zambia’s 60^th anniversary, of independence, it is important to look to the future and consider how we can build on the success of the past. For LASF, this means continuing to innovate and adapt to the changing needs of its members and the broader community. LASF looks forward to transforming into a vibrant and sustainable occupational Pension Scheme that will play a big role in the National development agenda. It is against this background that LASF embraces the Vision Statement as outlined its Strategic Plan which says “A modern and Sustainable Public Pension Scheme” and envisions to achieve this by 0231.

One of the key challenges facing the Scheme is the need to ensure long-term sustainability. This will require ongoing efforts to manage risks, diversify investments, and maintain a strong funding position. It will also involve exploring new opportunities to enhance member benefits and improve the overall member experience.

Another important area of focus is the need to promote financial literacy and retirement planning among members. By providing education support, LASF hopes to help its members make informed decisions about their retirement and ensure that they are well- prepared for the future.

Celebrating Our Achievements

As we reflect on Zambia’s achievements of the past 60 years, it is clear that LASF has played a crucial role in supporting the development of Zambia. The Scheme’s success is a testament to the hard work and dedication of its members, staff and stakeholders. It is also a reflection of the broader progress that Zambia has made as a nation.

In celebrating this milestone, we must also recognize the importance of continuing to invest in the future. By building on the successes of the past and embracing new opportunities, being created by a transformed LASF, we can ensure that LASF remains a pillar of support for public employees and their families for many years to come.

Zambia’s 60^th anniversary of independence is a time to celebrate our achievements and to reflect on the journey that has brought us to this point. The existence of LASF is one of the many accomplishments that Zambia can be proud of. As we look to the future, we must continue to build on the successes and ensure that LASF remains a source of financial security and support for the generations to come.

Happy 60^th anniversary Zambia. Here’s to many more years of progress, prosperity and success.