The Public Service Pensions Fund says it will soon introduce a micro financing scheme in which members under the fund will have access to loans.
Head of Public Relations Alex Chileshe disclosed the development in an interview with ZANIS in Ndola today.
Mr Chileshe said the financing scheme is aimed at ensuring that members access loans for use towards addressing areas of need and problems such as school fees and others.
He said members will be allowed to borrow amounts ranging from K1 million to K50 million and will be repaid over a period of time.
He said the scheme which has since been finalised is expected to be launched next month.
Mr Chileshe has urged civil servants to take advantage of the scheme once it is launched.
Mr Chileshe however, disclosed that the pension fund body owes close to K700 billion in form of retirement benefits for workers who have retired to date, a situation he said was attributed to inadequate funding over the years.
He however said government is making every effort to ensuring that this amount is liquidated and issues of long queues at the pension fund become a thing of the past.