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Mkulo anaibeba PPF?

Discussion in 'Habari na Hoja mchanganyiko' started by Ng'azagala, Oct 16, 2009.

  1. Ng'azagala

    Ng'azagala JF-Expert Member

    Oct 16, 2009
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    Key pension funds in deep trouble: Mkulo

    [​IMG]By Peter Nyanje, Arusha

    At least two national public pension funds are financially unstable and may have to be bailed out by the Government, Finance and Economic Affairs minister Mustafa Mkulo said yesterday.

    The minister said the Government might be forced to use its own money to rescue the social security funds that were already experiencing financial difficulties.

    However, Mr Mkulo, who was opening the annual Parastatal Pension Fund ( PPF) conference for members and other stakeholders, would not say how much the Government would be required to pump in to bolster the cash-strapped funds.

    He was reacting to the PPF members' persistent demands for an improvement of their benefits, especially the pension levels. The members have been citing the better benefits that their counterparts in the other social security funds have been drawing.

    Mr Mkulo said: "For your information, even the PSFP and LAPF, which are regarded as social security funds with high benefits, have already started to experience liquidity problems and the Government may be forced to compensate for the losses resulting from their financial problems."

    The news is bound shock many members, who can't believe that their life savings could be in jeopardy.The revelation also interestingly comes at a time when the members of the PPF drawn from the public universities are planning to hold a meeting today at the University of Dar es Salaam to discuss the problems bedevilling the fund.

    In an advertisement placed in the media yesterday, the UDSM Academic Staff Assembly (UDASA) called on the members to attend the meeting, to among other things, discuss what they claimed was the 'fleecing' of retirees by the fund. In the invitation, UDASA alleged that retirees would only be paid 10 per cent of their entitlement.

    Yesterday, Minister Mkulo told the PPF meeting in Arusha that one of the causes of the problems facing the two social security funds was the

    "payment of benefits which are not in tandem with their financial capacity".

    He added: "This contravenes the Government's intension when establishing the funds. Our aim was to ensure that the funds become financially sustainable."

    The minister appealed for calm among the PPF members, noting that a decision to increase or maintain the current benefit levels would be known soon, as a consultant appointed to undertake the study had completed the work and handed in the report.

    He said he had already received the report, which was being worked on. The PPF appointed the consultant in response to increased demands by the members to have benefits reviewed.

    "I want to assure the members that the Government is working on the report to determine if the fund will be able to increase the benefits without encountering more financial problems."

    The public pension funds have lately come under scrutiny, with queries arising over the manner in which they are being managed. The World Bank is one of the donors that have called for more accountable management.

    The Government is currently operationalising a new Bill to streamline the running of the institutions.One of the recommendations in the new law is to establish an independent pensions regulatory authority to play an oversight role in the sector.

    Concerns have been raised over lack of accountability in the use by the authorities of pensioners' money.

    Lack of checks and balances, poor book keeping and haphazard investment decisions, are among the factors that have jeopardised the running of the pension funds.

    Meanwhile, PPF members, especially pensioners, were yesterday pleased to learn that the Board of Trustees had decided to increase the lower monthly pension payments from Sh21,000 to Sh50,000, with effect from next January .

    Even Mr Mkulo, who is also a pensioner in the higher levels, was hopeful that his category would also benefit soon.

    Speaking on the members' behalf, Mr Placidius Luoga, the Tanzania Revenue Authority (TRA) deputy commissioner general, said they hoped the decision would be implemented as soon as possible.

    "We don't expect to hear that after some consultations and evaluation there will be a delay in implementation. We know that it is not that much but in the prevailing economic conditions, to increase payment levels by more than 100 per cent is something to be lauded," he said, while moving vote of thanks after Mr Mkulo's opening address.

  2. A

    August JF-Expert Member

    Oct 16, 2009
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    inabidi wakurugenzi waondolewe
  3. Ng'azagala

    Ng'azagala JF-Expert Member

    Oct 16, 2009
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    hivi hii nchi tumelogwa? kama mifuko ya pension inamatatizo kwa nini hawaangalii upande wa uongozi? wanasubili ife wabinafsishe?

    any way ukifikiria sana unaweza ugua vidonda vya tumbo bila sababu
  4. MchunguZI

    MchunguZI JF-Expert Member

    Oct 16, 2009
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    Swali zuri kabisa!!
    Naona ukishaingia Siasa za Afrika, reasoning inapotea kabisa!

    Mkulo alipostaafu NSSF alilipwa kiduchu. Alilalama utadhani kapewa hukumu ya kifo. Mifano yake kila wakati yalikuwa malipo mazuri ya waalimu wa primary. Leo hii kisha kuwa na ignorance.

    Walimu vyuoni wako sahihi kabisa maan PPF wanafanya investimate zao hawajui uwezo wao? Kila sehemu wanajidai kujenga majumba.

    Hizo milioni mia mbili ni kweli kabisa! na tena kumbe baada ya kulipa hizo, wakawapa muhula mpya tena! Hebu angalia pdf hiyo ambayo nimetumiwa na mwanachuo mmoja ambayo pia ni msingi wa mkutano wao wa leo huko UDSM.

    Attached Files:

  5. M

    Masatu JF-Expert Member

    Oct 16, 2009
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    Lakini si tuliambiwa PPF ni mfano mzuri wa uongozi mzuri wa mifuko ya pension? kulikoni tena?
  6. MchunguZI

    MchunguZI JF-Expert Member

    Oct 16, 2009
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    Hii mifuko ya hifadhi imekuwa kama ule 'mfuko chakavu' wa vikao vya arusi za Tanzania.

    Serikali inaingiza mkono na kufanya yasiyopangwa na mifuko yenyewe. Ni mifuko yooote. NSSF iliwahi kutetewa hapa JF kwa lugha za kitaalamu wakati tunajadili mgogolo wa dr Masau, sasa yako wapi?

    Hiyo PPF ilipopata DG wao wa sasa tukaletewa lugha ya majivuno. Eti ni young director utadhani ni kitu cha maana ktk uongozi. Kumbe ni mtu kashikwa mkono tu.

    How is he going now? Below Andri Rjolina!