Old Mutual Pension Services Company (Malawi) Limited has urged the youth to safeguard their pension savings and avoid early withdrawals if they are to secure a dignified retirement.
Speaking during the company’s 2026 Pension Trustees Conference in Mangochi District on Friday, the firm’s managing director Tawonga Manda said younger generations have an advantage under Malawi’s mandatory pension system because they have more time to save and can accumulate greater retirement benefits than older persons.
He said this year’s conference is built on last year’s inaugural gathering, which focused largely on changes brought by the Pension Act 2023.
“This year’s conference seeks to deepen understanding of the changes in the pension sector and empower trustees and members to make informed decisions on accessing and using their pension savings before retirement,” said Manda.
He said members who access their pension savings early should have a clear purpose for the money and use it meaningfully not to compromise their savings.
Old Mutual Pension Trustees chairperson Beston Ndhlovu said the conference helped them to remain abreast of developments in the country’s pension industry.
He said trustees need to position themselves to understand emerging trends and equip themselves with relevant information to effectively guide pension members on decisions affecting their retirement savings.
The conference, held under the theme ‘Reimagining retirement, empowering pension members’ decisions in the age of early access’, attracted trustees from across the pension industry.
The conference, among others, drew trustees from the Malawi Revenue Authority, Lilongwe Handling Company Limited and Reserve Bank of Malawi.
