The Reserve Bank of Malawi (RBM) has launched a dedicated Pension Scheme Department aimed at addressing pension-related complaints and ensuring timely access to retirement benefits.

Speaking during a press briefing in Lilongwe, Reserve Bank Governor Dr. Mafuta Mwale said the new department is a step forward in safeguarding the livelihoods of pensioners and ensuring they receive what is rightfully theirs.

Dr. Mwale issued a stern warning to employers, urging them to comply with pension regulations or risk having their business licenses revoked.

“The department will be responsible for fast-tracking pension fund disbursements, addressing complaints, and raising awareness about pension rights and responsibilities,” he said.