On the 24th of March 2018, four ZCAS students attended a sensitisation workshop focusing on pensions and insurance hosted by the Insurers Association of Zambia.
Even though we had learnt about pensions and insurance through our courses as students, we soon discovered that there was so much more we did not know.
To begin with, the Oxford Dictionary describes a pension as, “a regular payment made during a person’s retirement from an investment fund to which that person or their employer has contributed during their working life” which I think is the simplest way to describe what a pension is.
From everything that Mr Kamphata Botha the Chairman of Zambia Association of Pension Funds talked about, one thing that stuck with me is that it is never too early to have a pension scheme because the longer you have it the more comfortable your life will be after retirement.
Such simple words really struck a chord with me to the point where when I do graduate and eventually get a full time job, there will definitely be a percentage of my paycheck going to my pension scheme.
I also felt very embarrassed that such a thought never crossed my mind but then again, ignorance is bliss because even if I learnt about it in university, it never really crossed my mind as something I should really consider.
With that being said, I am now all about spreading financial literacy in my little circle which is my friends and family.
So if you have learnt anything through this blog post, do pass it on to a friend or a loved one because this can definitely change lives.