ADDENDUM TO THE COLLECTIVE AGREEMENT BETWEEN THE PUBLIC SERVICE PENSIONS FUND BOARD (PSPFB) AND ZAMBIA UNION OF FINANCIAL INSTITUTIONS AND ALLIED WORKERS (ZUFIAW) - 2017

FOR THE PERIOD 1st JANUARY, 2017 TO 31st DECEMBER, 2017.

1.0 Preliminary

This Memorandum for Addendum to the Collective Agreement is made this Tuesday 21st day of February, 2017 between the Public Service Pensions Fund Board, a statutory body created by the Public Service Pensions Fund Act CAP 260 of the Laws of Zambia (hereinafter called the “Board”) of the one part and the Zambia Union of Financial Institutions and Allied Workers a trade union registered under the industrial Relations and Labour Act CAP 269 of the Laws of Zambia (hereinafter called the "Union”) on the other part in accordance with the Recognition Agreement. The parties witnesseth as follows:

PART I: REMUNERATION OF EMPLOYEES

2.0 Salary

PART II: ALLOWANCES

3.0 Long service Bonus

3.1 The parties agreed that all future employees engaged after the cut-off date of 31st December 2013 shall not be entitled to a long service bonus but would automatically be enrolled into the In-House Pension Scheme.

PART IV: STAFF LOANS

4.0 Loans

4.1 The parties agreed that all future employees engaged after the cut-off date of 10th August 2015 shall be entitled to staff loans as follows:

4.1.1 You shall be entitled to a Personal Loan of K650, 000 after working for three years. The loan shall be deducted in 72 months.

4.1.2 You shall be entitled to a House Loan amounting to K800,000 after working for three years. The deduction shall be the difference between your age at that time and mandatory retirement age.

4.1.3 You shall be entitled to an Empowerment Loan of K800, 000 after servicing the House loan for five years. The deduction shall be the difference between your age at that time and retirement age.

4.1.4 Please note that the loans shall be repaid on demand upon exit.

FOR AND ON BEHALF OF PSPFB AND ZUFIAW

* Mrs. Chimpampwe Silvia

BARGAINING UNIT - CHAIRPERSON

MANAGEMENT TEAM

* Dr. Richard Mwiinga

Secretary & Chief Executive

* Mr Mujimba Nkamu

Management Spokesperson.

* Mr. Nicholas Musonda

Head - Human Resources and Administration

ZUFIAW TEAM

*Mr. Chingati Msiska

General Secretary

* Mr. Charles Nsama

Union Spokesperson

*

Branch Union Chairman

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