Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

IMF wants pensions watchdog

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by BabuK, Jan 4, 2010.

  1. BabuK

    BabuK JF-Expert Member

    #1
    Jan 4, 2010
    Joined: Jul 30, 2008
    Messages: 1,841
    Likes Received: 66
    Trophy Points: 145
    THE International Monetary Fund (IMF) has advised Tanzania to speed up formation of the Social Security Regulatory Authority (SSRA), to enhance growth of the industry and curb misuse of workers' savings.

    In its response to a letter of intent by the Minister of Finance and Economic Affairs, Mr Mustafa Mkulo, the IMF said SSRA was crucial in regulating pensions and other related services.

    "Beyond the banking system, continued absence of social security regulator remains a significant weakness in the economy," reads part of the IMF's statement.

    IMF said although Tanzania's financial system has not been directly affected by the global crisis, supervision should remain vigilant and gaps in the framework plugged.

    Minister Mkulo said in his letter of intent to IMF in November, last year, that investment guidelines for the pension funds, incorporating views from stakeholders, had been drafted and would soon become operational.

    "A budget allocation for the pension regulator has been provided and new actuarial reviews of each of the pension funds are underway," he said.

    The Minister for Labour, Employment and Youth Development, Prof Juma Kapuya, told the 'Daily News' recently that the recruitment of the management of regulator was still on, but was not sure as to when the chief executive would be picked.

    "We have finished recruitment of some workers in some levels, but the decision on the chief executive is beyond my jurisdiction," he noted.

    The law establishing an independent regulator of social security schemes was enacted in 2008.

    The regulator will help pension funds to operate more efficiently and ensure their members are the main beneficiaries of respective schemes.

    The government expects that the number of employees joining the social security schemes will increase, when their operations are regulated.

    The Controller and Auditor General (CAG) has often in his annual reports criticised some pension funds for mismanaging public funds.

    There are accusations that some funds are being influenced by key public figures to sink members' funds in dubious investments and give large, unsecured loans to politically connected individuals and companies.

    Analysts see the coming of a regulator as a positive move, as the new law requires that managers and custodians invest pensions according to laid down criteria. The Bank of Tanzania (BoT) will, in collaboration with the authority, issue the investment guidelines.

    The central bank, which will have powers to regulate and supervise the schemes' finances, will also monitor and ensure compliance to the guidelines by the managers and custodians.

    The funds currently operating in the country are National Social Security Fund (NSSF), Parastatal Pension Fund (PPF), Government Employees Pension Fund (GEPF), Public Sector Pension Fund (PSPF) and Local Authority Pension Fund (LAPF).

    Source: Daily News 4th Jan. 2010.

    Pension watchdog ni muhimu ili kulinda AKIBA NA KUPANUA WIGO WA MAFAO Ya wafanyakazi ( WANACHAMA) ambayo yanabaniwa au "KUBAKWA" na wajanja.. Sheria za mafao haya nazo ziangaliwe maana zinawanyonya wafanyakazi na kuzineemesha taasisi hizi kwa migongo ya wana pensheni !!!
     
  2. PakaJimmy

    PakaJimmy JF-Expert Member

    #2
    Jan 4, 2010
    Joined: Apr 29, 2009
    Messages: 16,234
    Likes Received: 105
    Trophy Points: 160
    Bora kabisa ije hiyo SSRA, HUENDA IKAWADHIBITI HAWA wanaokula hela zetu bila kipimo, na kuwasumbua wazee wastafu pindi wakihitaji mafao yao.

    Lakini hiyo SSRA, yeyewe itakuwa chini ya nani, maana hali isije ikawa ndo worse tena, maana tunaweza kuwa tumeongeza walaji wa hizo fedha.

    Regulatory Authority gani hapa nchini ambayo imekuwa effective?...

    Tunazijua baadhi kama EWURA, TCRA, SUMATRA na wengineo, je bodi hizi zinafanya kazi inayotakiwa, na wananchi wanaridhika?

    Kila mtu anajua jibu lake...lakini tutafika tu!
     
  3. B

    Bulesi JF-Expert Member

    #3
    Jan 4, 2010
    Joined: May 14, 2008
    Messages: 6,282
    Likes Received: 256
    Trophy Points: 180
    Sijui hiyo sheria ya kuregulate pension funds imeandikwaje lakini ingekuwa vyema kama ingesema wazi kuwa CEO wake apatikane kwa ushindani ili watu wenye uwezo waapply na kutahiniwa na yule anayefaa kupewa kazi badala ya kuachia mamlaka kuteua cronies wao; hivyo hivyo kwa board members waombe na kutahiniwa na competent body kama vile price waterhouse coopers na wanaoshinda wateuliwe badala ya kumuachia Kapuya ajaze wajumbe wote toka Urambo!!!Usishangae ukakuta Kapuya kamteua mwenyekiti wake wa CCM wa wilaya kuwa Mjumbe wa board!! Kuna wakati waziri mmoja aliwateua wenyeviti karibuni wote wa ccm wa mikoa kuwa kwenye board za wizara yake hata hivyo hawakumsaidia!!
     
Loading...