Governance
Independent oversight, entirely in members' interests.
Mukuba Pension Trust is governed by an independent Board of Trustees whose sole duty is to act in the best interests of all scheme members — present and future.
Role of the Board of Trustees
The Board of Trustees is the governing body of Mukuba Pension Trust. Trustees are appointed in accordance with the Trust Deed and Rules, and may be nominated by the employer(s) or elected by members. Every trustee is legally bound by a fiduciary duty — they must act prudently, in good faith, and exclusively in the interest of members and beneficiaries.
Key responsibilities of the Board include:
- Setting and overseeing the fund's investment strategy and risk management framework
- Approving audited financial statements and annual reports
- Ensuring compliance with the Pension Scheme Regulation Act and PIA requirements
- Approving major decisions affecting members' benefits
- Engaging and overseeing the professional management team and service providers
- Ensuring appropriate communication with members
Board committees
The Board operates through three standing committees to ensure thorough scrutiny of key matters:
Investment Committee
Oversees the fund's asset allocation, investment manager selection and monitoring, and compliance with the Investment Policy Statement. Meets quarterly and reports to the full Board at each Board meeting.
Audit & Risk Committee
Oversees financial reporting, internal controls, external audit relationships, and the fund's risk register. Reviews the annual audited financial statements before submission to the PIA.
Benefits Committee
Reviews benefit claims, considers member grievances, and advises the Board on proposed amendments to scheme rules that affect member entitlements.
Regulatory oversight
Mukuba Pension Trust is regulated by the Pensions and Insurance Authority (PIA) of Zambia. The PIA is responsible for the registration, supervision, and regulation of pension schemes operating in Zambia under the Pension Scheme Regulation Act.
The fund submits annual audited financial statements and regulatory returns to the PIA. Members or beneficiaries with unresolved complaints may also approach the PIA as a regulatory escalation point.
Board of Trustees
The Board comprises six trustees — three nominated by the principal employer and two elected by active members, with one independent trustee — reflecting the fund's commitment to balanced representation.
| Name | Role | Appointment type | Since |
|---|---|---|---|
| Mr. Joseph Mutale | Chairperson | Employer Nominee | 2018 |
| Mrs. Patricia Nkonde | Vice-Chairperson | Member Elected | 2021 |
| Mr. Henry Chanda | Trustee | Employer Nominee | 2019 |
| Ms. Charity Phiri | Trustee | Member Elected | 2022 |
| Mr. Emmanuel Tembo | Trustee | Independent | 2020 |
| Mrs. Rosemary Musonda | Trustee | Employer Nominee | 2023 |
See our annual reports
Audited financial statements and trustee reports are published each year in our resources section.