Staff Reporter
A group representing over 600 retrenched former Air Namibia employees today visited the Namibia Financial Institutions Supervisory Authority (Namfisa) to address the delayed payout of their pension funds, which are worth over N$28 million. These workers had been unemployed for nearly three years following the liquidation of Air Namibia in 2021.
Former Senior Cabin Control Officer Renier Bougard stated that the workers are awaiting payment from two liquidation processes, including Air Namibia’s assets and its pension fund. According to the Pension Fund Act, Namfisa provides a 30-day period for publication and a 14-day window for inspection and objections. Bougard mentioned that these deadlines expired last Friday, and the former employees anticipated receiving their residual pension funds on Monday, 2 October 2023.
Bougard warned that if they do not receive their pension payouts by Friday, they will close down Namfisa’s offices. He added that the delays are attributed to administrative mishaps, as Namra has not yet finalized their text directives necessary for the release of their funds.
The Namibia Financial Institutions Supervisory Authority (Namfisa) has disclosed the figures for Air Namibia’s retirement fund, with a total of N$28,017,834.24 earmarked for payment to former employees at the beginning of September 2023.
Upon the release of the figures, the employees expressed dissatisfaction with the current allocated amount, as they will not receive their full entitlement from the retirement fund distribution account. This is because a portion of the retirement funds was invested in an unlisted investment, which will only become accessible in the year 2025.
“We represent the former Air Namibia workers who are still unemployed. Close to 600 are still without work. These funds are not funds we have come to beg for, but money that accumulated after years of service in our pension funds. We are not beggars; we are professional employees who were terminated involuntarily,” Bougard said.
