Lusaka, 22nd August 2025

The Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) is pleased to announce the
successful conclusion of the 2025 salary negotiations with the Pensions and Insurance Authority
(PIA). The agreement signed at PIA Headquarters awarded a 10% salary increment to all unionised
employees, effective January 2025.

Speaking at the ceremony, Mr. Kasapo Sundrea Kabende, ZUFIAW General Secretary and CEO,
underscored that the agreement represented more than just a salary adjustment. He stressed that it
was a reaffirmation of the strong partnership between ZUFIAW and PIA which has been built over
years of dialogue and mutual trust. He explained that while the operationalisation of the
Emoluments Commission in 2023 had caused delays and created anxiety among workers, the union
remained steadfast in defending the integrity of free collective bargaining.

Mr. Kabende emphasised that the 10% awarded to the employees was the result of determined
negotiations and a reflection of the Union’s commitment to securing cost reflective increments for
its members. He confirmed that the increment would be backdated to January 2025, with arrears to
be paid in the current cycle, ensuring that workers do not lose out due to delayed processes.

He also highlighted ZUFIAW’s commitment to the ongoing pension reforms, noting that the Pensions
and Insurance Authority Bill and the Pension Scheme Regulation Bill represented progressive steps
that would not only strengthen industry supervision but also safeguard the rights of pension
members and policyholders. ZUFIAW pledged to continue engaging with PIA and other stakeholders
to ensure the reforms are concluded as soon as possible.
He further acknowledged the cooperation of Mrs. Namakau Mundia Ntini, Registrar of the PIA, and
her management team, who demonstrated openness and professionalism during the negotiations.

Mr. Kabende stressed that the maturity displayed by both parties was a positive example of how
collective bargaining should be conducted.
He reaffirmed ZUFIAW commitment to advancing workers’ welfare, protecting their rights and
interests, and ensuring that future negotiations continue to reflect fairness, transparency, and
respect.

In conclusion, Mr. Kabende, extended his appreciation to the PIA branch leadership for their
dedication and to all members for their trust and support to the Union.

Kasapo Sundrea Kabende (Mr.)
General Secretary and CEO
Zambia Union of Financial Institutions and Allied Workers.