The move has prompted the synod to engage its congregation in all its 18 presbyteries by giving each church a target amount to collect by November this year in an effort to raise the money.
Synod general treasurer Henry Ndeule said on Tuesday with the Act, all employees, including reverends, have been placed on a pension scheme and the institution opted for Nico.
Said Ndeule: â€œThe synod did not initially have a pension scheme, but deducted an amount from employeesâ€™ earnings in form of severance pay. That money has been transferred to Nico, but the synod owes K48 million in severance arrears and we have agreed to pay them in four years.
â€œAll churches under Blantyre Synod have been asked to fundraise, but the money might or might not be realised. If they fail to raise the money, the synod will have to devise other means to raise the money.â€
Deputy general secretary for the synod the Reverend Cliff Nyekanyeka said employees were being deducted 7.5 percent from their salaries under the severance pay system, which he said was deposited with the National Bank of Malawi (NBM).
He said the synod was supposed to be contributing 8.5 percent to every individual; hence, the K48 million arrears they now owe Nico Life. He said there was no pressure from anywhere.