TEMWANI NALONDWA2025-05-132024https://research.unilus.ac.zm/handle/123456789/407Withdrawals from retirement accounts prior to retirement have become increasingly common over time. During the Covid-19 pandemic, several countries, including Chile, Peru, Australia, the United States, and Malaysia, permitted early withdrawals of pension funds. Nonetheless, the immediate and long-term consequences of such policies are understudied. Zambia recently enacted the National Pension Scheme Authority (Amendment) Act No. 1 of 2023, which allows for partial withdrawals from pension savings. This study sought to examine employees' perceptions of the National Pension Scheme Authority (Amendment) Act No. 1 of 2023, with a focus on awareness, decision-making processes, challenges, and overall perspectives on policy changes. A qualitative research design was used to gather in-depth information. Data were collected from 30 employees via interviews and questionnaires. Participants were chosen using stratified sampling to ensure a diverse representation. The data were analysed thematically, with findings presented as narrative quotes and summary tables. The National Pension Scheme Authority (Amendment) Act No.1 of 2023 was perceived differently by respondents, according to the study. While some employees viewed the policy as a chance to put more money to work, others raised fears about what it would do in the long run for retirement assets. These explanations correspond to reasons that varied across individuals rooted in financial distress, interest in the procedure per se and their own personal monetary goals. The policy highlighted NAPSA's need to increase its sensitization efforts as it provided financial flexibility. The measures in place include raising the awareness campaigns, and increasing an educational drive to make sure that employees are much better informed about what they stand to lose from taking their money early. Other ways might include decreasing pay-out turnaround times and highlighting portfolio diversification potential, boosting employee satisfaction with the policy engagement. This study touches on key concepts such as partial and premature withdrawal, policy evaluation, social security, and stakeholder perspectives.enNational Pension SchemeArticle