Opinion

The debate over Eswatini’s pension reform has been fiery, passionate and at times divisive. On one side, critics warn of chaos, duplication and unfairness. On the other, workers who have long been excluded from any form of retirement security are finally daring to hope for dignity in old age.

I have listened closely to their voices. Hlengiwe Matsebula, a 38-year-old domestic worker from Siteki, told me with a sense of optimism that their dignity will be restored.

“When we get old and can’t work anymore, we have nothing. We face a lot of problems just to feed our children. This new pension plan gives me hope for a better future for my family.”

Her words were echoed by Phumzile Masimula of Msunduza, who said she supports the conversion as a step towards a future of hope.

“This move gives us hope for a better future. I urge those who are against it to think about the greater good of the nation, and not just a few individuals.”

Security guard Simelane from Manzini was even more direct, saying this this is not just good for them as security guards, but it is good for all emaSwati. “At last, we belong,” he said.

Farm worker Sibusiso Mamba, who has worked the land since his teenage years, put it poignantly when he said he looked to the future with a sense of confidence.

“When the rains fail, we suffer. At least now, when I grow old, I won’t depend on good weather. I will have a pension,” Mamba said.

From petrol attendants like Liyandza Ngubane in Pigg’s Peak, to drivers such as Mzwandile Shongwe, waitresses like Siphosethu Matsenjwa and taxi drivers such as Zanele Magagula, the message is consistent; that this reform offers hope, security and the ability to plan for tomorrow.

A crucial question

It was against this animated public discourse that Thabo Magagula, CEO of Umelusi Capital, asked me a question on my Facebook page.

“Musa, can ENPF deliver on this mandate without civil servants? The civil service is only 44 000 employees and ENPF houses about 120 000 gainfully employed emaSwati. Can they harness the 120k plus without bothering to even mention the civil service fund?”

Magagula’s question resonated deeply. It is the kind of question that needs to be asked; blunt, practical and rooted in the numbers. And coming from him, it carries weight. Magagula is not only a formidable entrepreneur, but also a sharp thinker whose investments through Umelusi Capital are helping to shape Eswatini’s financial services landscape. His voice is important, and his question deserves a thoughtful, evidence-based answer.

Could ENPF deliver without civil servants?

The answer is yes. With a membership base of around 120 000 gainfully employed emaSwati, ENPF already represents a large portion of the formal workforce outside government. By expanding further into the private sector and informal economy, ENPF could substantially increase social protection without touching the civil service.

“ENPF has the scale, the numbers and the infrastructure to drive reform, even without the civil service,” an executive within the organisation recently told me.

But here is where the nuance lies; the goal of this reform is not just to expand ENPF’s reach. It is to establish a comprehensive and universal social protection system. And that requires inclusion.

The missed opportunity

Excluding civil servants would be a grave mistake. The principle of universality demands that no group is left out, regardless of who employs them.

With roughly 44 000 civil servants currently employed, excluding them would not cripple the scheme numerically. But the real damage would lie in excluding future civil servants; those hired after the Bill becomes law. They would lose the chance to benefit from dual coverage under both ENPF and PSPF.

That exclusion would cement the very gaps this reform is designed to close. And history would not look kindly on us for leaving them out.

Portability: Closing the gaps

The most pressing reason for inclusion is portability. Careers today are fluid. Many workers move between the private sector and the civil service. Teachers, for example, often start on short-term contracts, paying into ENPF, before becoming permanent under PSPF. Without dual membership, their earlier contributions are lost, and their PSPF pensionable service is shorter.

Scenario 1: A worker spends years in the private sector, contributing to ENPF. They later join the civil service. Their ENPF contributions stop counting. This is a loss.

Scenario 2: Contract teachers contribute to ENPF. Once confirmed, their ENPF membership ends. They lose out on the second pension they could have had.

In both cases, exclusion creates gaps and losses. Inclusion, on the other hand, means civil servants receive two pensions at retirement — PSPF plus ENPF — making them better off and closing long-standing vulnerabilities.

“Without portability, we are condemning workers to gaps that a universal scheme is precisely meant to close,” a contract teacher recently told me.

The two-tiered framework

The Eswatini National Pension Bill, 2025, proposes a dual structure:

Tier 1: A universal national pension fund, covering all workers, contributory and portable.

Tier 2: Employer-based occupational funds like PSPF, which remain intact and continue offering supplementary benefits.

This is not duplication. It is complementarity. PSPF continues to serve civil servants, while ENPF extends a safety net across the workforce.

Actuarial projections: Civil servants are better off

Independent actuarial modelling confirms that civil servants will benefit more, not less, under this system. Dual membership means:

• Higher combined pensions.
• Stronger survivor benefits.
• Greater portability across career paths.

The claim that civil servants will be worse off is not supported by the evidence. The truth is the opposite: they will be better off.

My position

I work closely with the parties driving this reform. These views are my own, formed after much engagement, but they are anchored in facts and evidence.

I know the debate is emotive. Pensions are deeply personal. But emotion must be balanced with reason. We need calm dialogue, not insults or misinformation. Only through respectful engagement can we find common ground and build consensus.

This is a nation-building project. It is about ensuring no liSwati retires into poverty.

The ENPF Bill of 2025 is a bold reform. It seeks not only to extend pensions to those long excluded, but also to strengthen retirement security for everyone. ENPF could deliver without civil servants, but to do so would be to fall short of its universal promise.

Inclusion is not optional. It is essential. Without it, the gaps remain. With it, we build a pension system that is fair, sustainable and truly national. As we continue this debate, let us keep listening to workers like Hlengiwe, Phumzile, Simelane, Sibusiso, Liyandza, Mzwandile, Zanele and Siphosethu. Their voices remind us what is really at stake; not abstract numbers or institutional rivalries, but dignity, fairness and the right to retire without fear.

Drop quotes

“Delivering the scheme without civil servants would be a major missed opportunity — one that history may judge harshly.”

“Civil servants are not being asked to give up PSPF. They are being offered an additional layer of protection through ENPF.”

“Without portability, we are condemning workers to gaps that a universal scheme is precisely meant to close.”

With a membership base of around 120 000 gainfully employed emaSwati, ENPF already represents a large portion of the formal workforce outside government. (Pic: ENPF)