The partial withdrawal of NAPSA refers to the ability of individuals in Zambia who are contributing to the National Pension Scheme Authority (NAPSA) to withdraw a portion of their accumulated contributions calculated before reaching the retirement age. It allows individuals to access a part of their NAPSA savings for various purposes while still being employed.

NAPSA is a mandatory pension scheme in Zambia that requires both employees and employers to make contributions calculated towards a retirement fund. These contributions calculated are deducted from the employee's salary and matched by the employer, with each party contributing 5% of the employee's salary. NAPSA then adds 12% to the total contributions calculated, including both the employee and employer contributions calculated.

The partial withdrawal option allows individuals who have contributed to NAPSA for a certain number of years to access a portion of the total contributions made. The specific amount that can be withdrawn is determined based on the total contributions accumulated over the years.

By using the NAPSA Partial Withdrawal Calculator, individuals can input their salary, years of contribution, and an interest rate to estimate the amount they may be eligible to withdraw. This calculator provides a convenient way to plan and manage finances, helping individuals make informed decisions about utilizing their NAPSA contributions for various financial needs such as education, health, or other personal requirements. It's important to note that the partial withdrawal option has certain conditions and limitations set by NAPSA. Therefore, individuals should consult the official guidelines and regulations provided by NAPSA to understand the eligibility criteria and any restrictions associated with the partial withdrawal of NAPSA contributions.

The NAPSA Partial Withdrawal Calculator is a handy tool that helps individuals in Zambia estimate the amount they can withdraw from their NAPSA contributions based on certain parameters. Here's what you need to know about:

NAPSA Partial Withdrawal Calculator

• Functionality: The NAPSA partial withdrawal calculator takes into account the employee's salary, years of contribution, and an interest rate to calculate the total contribution amount. It then determines the partial withdrawal amount, which is 20% of the total contributions made over the years.
• Why use it: The calculator provides an easy and quick way to estimate the partial withdrawal amount from NAPSA contributions. By inputting the relevant details, individuals can have a better understanding of the potential withdrawal they may be eligible for, helping them plan their finances effectively.