Revealed: State`s top ten billions makers with NSSF leading the way!!!

[Mdondoaji]

6th May 2012

Email

Print

Comments

National Social Security Fund (NSSF)


Ten state-owned corporations and agencies posted a combined profit amounting to a whopping Sh520 billion ($320million) in the financial year 2009/10, with the National Social Security Fund (NSSF) topping the league by posting Sh 207 billion - which is equal to the total combined profits posted by the top five banks in the country last year, The Guardian has learnt.

The top ten corporations fall under the category of service industry, but some of them have been investing heavily in real estate, lending and treasury bills.

According to financial details sent to the National Assembly recently, the top ten public corporations and agencies operate their businesses without receiving any subsidy from state coffers.
Though the banking sector is bigger than the combined assets of the top public corporations and agencies, their profits surpassed what the industry posted last year.

The top ten firms and their gross profits in brackets are NSSF (Sh207.9 billion), PPF (Sh97.6 billion), LAPF (Sh90.4 billion) and National Health Insurance Fund (Sh63.7 billion).


Others are Government Employees Pension Fund (Sh18.6bn), Public Service Pension Fund (Sh16.2 billion), Vocational Education and Training Authority (Sh16 billion), Tanzania Communications Regulatory Authority (Sh14 billion), Deposits Insurance Board (Sh10 billion) and Energy and Water Utilities Regulatory Authority (Sh7 billion).


Unlike pension funds, which have been in a spending spree investing in real estate, issuing loans to big businesses and trading in treasury bills, it is not clear how the National Health Insurance Fund made the staggering profit.

However, in health insurance if the total cost of health bills of those falling sick in a year is lower than the contributions made by the members, the Fund stands a good chance of posting a super profit.
Introduction of the National Health Insurance Fund (NHIF) as an alternative financing option in the health sector is a result of the government’s decision to implement health sector reforms, which the government embarked on in 1993 when the cost-sharing system was first introduced in government hospitals after three decades of free health care services.
Under the health sector reforms, various programmes, including the National Health Insurance Scheme, were introduced. To implement the scheme the National Health Insurance Fund was established by an Act of Parliament in 1999.
The law requires members to contribute 3 per cent of their salaries every month while the employer is also required to contribute another 3 per cent. The employer is therefore required to remit to the Fund a total of 6 per cent of the employee’s salary.
According to details contained in a report authored by chairman of the parliamentary Public Organisations Accounts Committee POAC) Zitto Kabwe, what NHIF posted as gross profit in the year under review was bigger than what the second biggest bank in Tanzania posted last year.
The whopping profit posted by NHIF also reveals how the health insurance business is lucrative in Tanzania - a country of about 44 million - but with only a very small minority enjoying health insurance cover.
NSSF, which tops the list, makes its huge profit from the money market - treasury bills and fixed deposits as well as commercial papers - which constitutes 35 percent of the Fund’s investment annually.
According to the Fund’s reports, part of its profit also came from bonds, mainly government and corporate, which take 25 per cent of NSSF’s annual investment budget.
NSSF also makes its profit from loans by lending to the government, corporate and small and medium enterprises (SMEs) whereby this sector comprised 12 per cent of the Fund’s annual investment budget.
Surprisingly, real estate takes only 8 per cent of the Fund’s annual investment budget while equity gets a mere 7 per cent.
The Fund’s total benefit payments to its members increased from Sh 50 billion in the financial year 2006/2007 to Sh 81 billion in the year 2007/2008.





SOURCE: THE GUARDIAN




Mtazamo:
Najua kuna watu wana chuki zao binafsi dhidi ya NSSF but mnyonge mnyongeni haki yake mpeni they are doing a great job well done. Hebu tuambieni basi PPF na wengineo wako katika hali gani???

 

[Bobuk]

[/I]

Nimeona kama PPF ni wa PILI? What is wrong with that? Au ulikuwa na maana nyingine zaidi.

But all in all NSSF na PPF ni mifuko ya jamii inayonyonya sana wanachama wake, no wonder they are making hefty profit. Ngoja wa harmonize mafao au waruhusui watu kuchangua mifuko waipendayo uone kama NSSF itakuwa the same.

 

[Tume ya Katiba]

Dr. Rama Anatisha!

 

[TIMING]

mnaweka hii ya making, wekeni basi ya spending halafu muweke na projections za finances zao 5 years down the road

BTW, hii habari imelipiwa kuondoa anxiety

 

[HISIA KALI]

6th May 2012

Email

Print

Comments

National Social Security Fund (NSSF)


Ten state-owned corporations and agencies posted a combined profit amounting to a whopping Sh520 billion ($320million) in the financial year 2009/10, with the National Social Security Fund (NSSF) topping the league by posting Sh 207 billion - which is equal to the total combined profits posted by the top five banks in the country last year, The Guardian has learnt.

The top ten corporations fall under the category of service industry, but some of them have been investing heavily in real estate, lending and treasury bills.

According to financial details sent to the National Assembly recently, the top ten public corporations and agencies operate their businesses without receiving any subsidy from state coffers.
Though the banking sector is bigger than the combined assets of the top public corporations and agencies, their profits surpassed what the industry posted last year.

The top ten firms and their gross profits in brackets are NSSF (Sh207.9 billion), PPF (Sh97.6 billion), LAPF (Sh90.4 billion) and National Health Insurance Fund (Sh63.7 billion).


Others are Government Employees Pension Fund (Sh18.6bn), Public Service Pension Fund (Sh16.2 billion), Vocational Education and Training Authority (Sh16 billion), Tanzania Communications Regulatory Authority (Sh14 billion), Deposits Insurance Board (Sh10 billion) and Energy and Water Utilities Regulatory Authority (Sh7 billion).


Unlike pension funds, which have been in a spending spree investing in real estate, issuing loans to big businesses and trading in treasury bills, it is not clear how the National Health Insurance Fund made the staggering profit.

However, in health insurance if the total cost of health bills of those falling sick in a year is lower than the contributions made by the members, the Fund stands a good chance of posting a super profit.
Introduction of the National Health Insurance Fund (NHIF) as an alternative financing option in the health sector is a result of the government's decision to implement health sector reforms, which the government embarked on in 1993 when the cost-sharing system was first introduced in government hospitals after three decades of free health care services.
Under the health sector reforms, various programmes, including the National Health Insurance Scheme, were introduced. To implement the scheme the National Health Insurance Fund was established by an Act of Parliament in 1999.
The law requires members to contribute 3 per cent of their salaries every month while the employer is also required to contribute another 3 per cent. The employer is therefore required to remit to the Fund a total of 6 per cent of the employee's salary.
According to details contained in a report authored by chairman of the parliamentary Public Organisations Accounts Committee POAC) Zitto Kabwe, what NHIF posted as gross profit in the year under review was bigger than what the second biggest bank in Tanzania posted last year.
The whopping profit posted by NHIF also reveals how the health insurance business is lucrative in Tanzania - a country of about 44 million - but with only a very small minority enjoying health insurance cover.
NSSF, which tops the list, makes its huge profit from the money market - treasury bills and fixed deposits as well as commercial papers - which constitutes 35 percent of the Fund's investment annually.
According to the Fund's reports, part of its profit also came from bonds, mainly government and corporate, which take 25 per cent of NSSF's annual investment budget.
NSSF also makes its profit from loans by lending to the government, corporate and small and medium enterprises (SMEs) whereby this sector comprised 12 per cent of the Fund's annual investment budget.
Surprisingly, real estate takes only 8 per cent of the Fund's annual investment budget while equity gets a mere 7 per cent.
The Fund's total benefit payments to its members increased from Sh 50 billion in the financial year 2006/2007 to Sh 81 billion in the year 2007/2008.





SOURCE: THE GUARDIAN




Mtazamo:
Najua kuna watu wana chuki zao binafsi dhidi ya NSSF but mnyonge mnyongeni haki yake mpeni they are doing a great job well done. Hebu tuambieni basi PPF na wengineo wako katika hali gani???

Kwa jinsi hii mifuko ya pension inavyoendeshwa siwezi kutegemea kwamba watapata hasara hata siku moja, labda tu kuwa na wezi wa fedha za michango ya wanachama. Nasema hivi kwa sababu hii mifuko inatumia hela za michango ya wanachama wao kama mtaji. Na huu ni mtaji usiokuwa na gharama kwani hakuna interest inalipwa kwa wanachama hao. Hii ni sawa na kukopa hela benki bila riba, at no cost. Katika hali kama hii ili kupata faida inatakiwa tu usipoteze mtaji huu wa bure.

 

[Jadi]

Kwa jinsi hii mifuko ya pension inavyoendeshwa siwezi kutegemea kwamba watapata hasara hata siku moja, labda tu kuwa na wezi wa fedha za michango ya wanachama. Nasema hivi kwa sababu hii mifuko inatumia hela za michango ya wanachama wao kama mtaji. Na huu ni mtaji usiokuwa na gharama kwani hakuna interest inalipwa kwa wanachama hao. Hii ni sawa na kukopa hela benki bila riba, at no cost. Katika hali kama hii ili kupata faida inatakiwa tu usipoteze mtaji huu wa bure.

Umenena, kama unaweza kuwa umekusanya 20m na ukilaim unapewa laki moja na nusu kama asante unategemea nini?ni faida sana tu

 

[Ndinani]

Dr. Rama Anatisha!

Hana lolote huyu ni mwizi tu; wangekuwa wanawalipa interest watu kwenye contributions zao wanazoinvest hiyo profit isingekuwa hivyo!! It is exaggerated profit!!

 

[Mkulima]

Hizi pension funds kwa nchi nyingi zikiwemo matajiri huwa zinapata hasara kila mwaka yaani pesa zinazoingizwa huwa kidogo kuliko zinazozalishwa na hivyo kuzifanya serikali au kampuni mama kusaidia kwa kujazilia pesa.

Kama NSSF wana pesa za ziada na hawahitaji hata senti tano toka serikalini ni jambo zuri sana na la kupongezwa.

Pia ni kama wamefanya diversification nzuri na hivyo kujikuta wanapata faida nzuri pia.

Kikubwa watanzania hatuishi muda mrefu hivyo hizi funds hazina mzigo mkubwa wa kuhudumia members wao kwa muda mrefu.

 

[Mkulima]

Hana lolote huyu ni mwizi tu; wangekuwa wanawalipa interest watu kwenye contributions zao wanazoinvest hiyo profit isingekuwa hivyo!! It is exaggerated profit!!

Sijawahi kuona pension fund duniani ambayo inalipa interest kwa members wao.

Interests zinalipwa kupitia kuongezwa kwa mafao hayo kila mwaka ili yaendane at least na inflation.

Lengo la pension fund ni kwamba unatunza leo wakati unacho ili hizo pesa zije zikusaidie uzeeni. masuala ya interests yahana uhusiano kabisa na pension funds hasa unapoongelea members.

Kadri fund inapowekeza kwenye biashara zinazolipa interest kubwa ndivyo fund inavyozidi kupata faida na hivyo kuwa na uwezo wa kukidhi ahadi zake kwa wanachama wake.

 

[Pascal Mayalla]

Asante Mdondoaji,
Mimi naomba niwe wa kwanza.
1. Nchi zote duniani mashirika ya hifadhi ndio yanayoongoza kwa faida kubwa gross na ndio mostly yenye uwezo wa kuunda SPV!.
2. Hiyo gross kubwa ya NSSF ina maana gani kama hatimaye hutoa mafao duni wanachama wake?.
3. Angalia PSPF ndio ina gross profit ndogo kwa vile inatoa mafao bora kabisa kwa wanachama wake?.
4. Kama PSPF inawajengea nyumba za gharama nafuu na kuwauzia wanachama wake kwa bei ya karibu na bure, hilo li faida likubwa la NSSF lina tija gani kama wanachama wake wakisha staafu wanalipwa mafao kiduchu na kuishia kuwa hohehahe?!.
5. Katika matangazo yake, NSSF imekuwa ikijitapa kitoa mafao ya msiba, matibabu etc nikifikiri ni added value, kumbe mafao hayo yanakatwa toka yale yale mafao yako ya mwisho, hivyo ukiugua ugua sana ukatibiwa kwa mafao yako, unapostaafu inaweza ukashtukia huna kitu kwa sababu fedha zote utakuwa umemaliza kwa kujitibia!.
6. Last year nilimuuliza bosi wa SSRA yule dada Irene Isaka, kwa nini mifuko yote isilazimishwe kutoa mafao bora kama PSPF?. Akanijibu hilo linashughulikiwa bila kuadhiri afya ya mifuko.
7. Lengo la mifuko ya hifadhi za jamii ni kukuwezesha wewe ku sustain decent living baada ya kuuzeeka, linganisha maisha ya wastaafu wa NSSF na wale wa PSPF unieleze hayo mabilioni ya faida wanamfaidisha nani?.
8. NSSF ndio inayoongoza kwa kutoa mikopo ya kujipendekeza na kujikomba komba kwa wakubwa ambao wala sio wanachama wakiwemo viongozi wakuu wa serikali wakati wanachama wenyewe hawakopeshwi!.
9. Yusuph Manji ndie aliwahi kuwa mkopaji mkuu wa NSSF kuna wakati alikopeshwa bilioni 10 akaitumia kujengea ile Millenium Bussness Park, alipomaliza akawauzi NSSF kwa bilioni 40, akalipa deni lao la ile bilioni 10 na kupoket bilioni zake 30!, what a profit.
10. Tena NSSF wana bahati sisi wanachama hatuwezi kuwafikisha mahakamani kwa loss making investments, mfano Machinga Complex ni white elephant with a huge loss!.

Angalizo: Hizi sio chuki binafsi kwa sababu mimi ni mwanachana wa NSSF na sifaidiki kwa lolote wala chochote!.

 

[Kibanga Ampiga Mkoloni]

TANAPA vipi?

 

[Donyongijape]

Pasco, ww una chuki binafsi, wala huwezi kupinga hilo. Tena ukiwa kama mwanachama ulipaswa kuomba info ukapewa. Kuhusu matibabu NSSF, ni BURE kabisa kama wanavyosema..mimi nina jamaa zangu kadhaa walipata matibabu mara nyingi tu na familia zao, ila mwisho wa siku walienda kuchukua hela BILA MAKATO YOYOTE. Acha kuadaa UMMA, NSSF ni sustainable kweli kweli kuliko mifuko mingine yote EAST AND CENTRAL AFRICA (Hili hata ILO wanajua,kupitia actuarial valuatio).

Eti investments kwenye miradi isiyozalisha, hiyo bn 207 ambayo ni zaidi ya top 5banks imetoka wapi??. Kuwa rational thinker, siyo unabwabwaja tu na kuwa vuvuzela. Tena nategemea mwandishi kama wewe,kioo cha jamii, utatupa habari kwa kina bila chongo.

PSPF, katika mifuko inayoweza KUTOBOKA, SIKU YOYOTE..ni huu! Formula yao hakuna dunia nzima. Ni ulaghai tu ili kutimiza matakwa ya viongozi walafi serikalini(NO WONDER HAWAMAKE PROFIT). Ni kama DECI kwa taarifa yako. Kipindi SSRA watakaporeview formula, PSPF ndio watakuwa waathirika wakubwa ,wizi mtupu.

 

[Kyaruzi]

Im confused! si tuliambiwa na kuaminishwa hapa JF kuwa NSSF ni mufirisi na CAG ndiye alisema maneno hayo? Sasa hayo "mabilioni" ya faida yametoka wapi tena?

Am I missing something here?

 

[Ndahani]

Mtazamo:
Najua kuna watu wana chuki zao binafsi dhidi ya NSSF but mnyonge mnyongeni haki yake mpeni they are doing a great job well done. Hebu tuambieni basi PPF na wengineo wako katika hali gani???

[/QUOTE]

Sion tatizo ni wivu isipokuwa accountability. Enrol na Worldcom kabla ya kutangazwa muflisi walipika data wakaonekana kama ni makampuni yanayotengeneza faida kubwa. Mwisho wake ulikuwa nini!!!???
Tunataka uwazi kwenye matumizi ya mifuko hii maana ni mifuko ya umma na wenye nayo ni wachangiaji...sio mali ya watu fulani wachache wanaoamua kufanya kitu chochote bila manufaa kwa wawekezaji.

 

[Ndahani]

Im confused! si tuliambiwa na kuaminishwa hapa JF kuwa NSSF ni mufirisi na CAG ndiye alisema maneno hayo? Sasa hayo "mabilioni" ya faida yametoka wapi tena?

Am I missing something here?

Kwanini sasa wanasita kutoa taarifa? Kama kila kitu kiko sawasawa! Tusianze kupika mahesabu hapa tukajikuta tunaamini kuna faida kumbe kuna hasara za kufa mtu.

 

[Donyongijape]

Hakuna mtu ana wiz=vu na NSSF...tunataka transparancy maana kama hela ni za wanachama kwanini kupata ripoti za ukaguzi au kutoa mahesabu yao kwa umma wanafanya siri? Wanachoficha nini? Unajua kwamba kabla ya kashfa ya kuanguka kwa Enron na Worldcom, makampuni yote hayo yali post faida kubwa kwenye mahesabu yao...ila hesabu zilipikwa!

Mimi last week nilikuwa pale na nilichukua Annual report yenye hizo taarifa za fedha. Acha uvivu, toka kwenye keyboard ukafuatilie mambo.

Alafu, huwezi kulinganisha PENSION FUNDS na makampuni. They are in two different worlds. Jifikirishe.

 

[Kyaruzi]

Asante Mdondoaji,
Mimi naomba niwe wa kwanza.
1. Nchi zote duniani mashirika ya hifadhi ndio yanayoongoza kwa faida kubwa gross na ndio mostly yenye uwezo wa kuunda SPV!.
2. Hiyo gross kubwa ya NSSF ina maana gani kama hatimaye hutoa mafao duni wanachama wake?.
3. Angalia PSPF ndio ina gross profit ndogo kwa vile inatoa mafao bora kabisa kwa wanachama wake?.
4. Kama PSPF inawajengea nyumba za gharama nafuu na kuwauzia wanachama wake kwa bei ya karibu na bure, hilo li faida likubwa la NSSF lina tija gani kama wanachama wake wakisha staafu wanalipwa mafao kiduchu na kuishia kuwa hohehahe?!.
5. Katika matangazo yake, NSSF imekuwa ikijitapa kitoa mafao ya msiba, matibabu etc nikifikiri ni added value, kumbe mafao hayo yanakatwa toka yale yale mafao yako ya mwisho, hivyo ukiugua ugua sana ukatibiwa kwa mafao yako, unapostaafu inaweza ukashtukia huna kitu kwa sababu fedha zote utakuwa umemaliza kwa kujitibia!.
6. Last year nilimuuliza bosi wa SSRA yule dada Irene Isaka, kwa nini mifuko yote isilazimishwe kutoa mafao bora kama PSPF?. Akanijibu hilo linashughulikiwa bila kuadhiri afya ya mifuko.
7. Lengo la mifuko ya hifadhi za jamii ni kukuwezesha wewe ku sustain decent living baada ya kuuzeeka, linganisha maisha ya wastaafu wa NSSF na wale wa PSPF unieleze hayo mabilioni ya faida wanamfaidisha nani?.
8. NSSF ndio inayoongoza kwa kutoa mikopo ya kujipendekeza na kujikomba komba kwa wakubwa ambao wala sio wanachama wakiwemo viongozi wakuu wa serikali wakati wanachama wenyewe hawakopeshwi!.
9. Yusuph Manji ndie aliwahi kuwa mkopaji mkuu wa NSSF kuna wakati alikopeshwa bilioni 10 akaitumia kujengea ile Millenium Bussness Park, alipomaliza akawauzi NSSF kwa bilioni 40, akalipa deni lao la ile bilioni 10 na kupoket bilioni zake 30!, what a profit.
10. Tena NSSF wana bahati sisi wanachama hatuwezi kuwafikisha mahakamani kwa loss making investments, mfano Machinga Complex ni white elephant with a huge loss!.

Angalizo: Hizi sio chuki binafsi kwa sababu mimi ni mwanachana wa NSSF na sifaidiki kwa lolote wala chochote!.

Mkuu ukiondoa mafao ya matibabu, mafao mengine mpaka utakapostaafu au kuacha kazi, sasa utanufaika vp ilhali bado unadunda kazini?

Wataka kwenda mbinguni kabla ya kufa! kufa kwanza mkuu

 

[Wingu]

Hongera zao sina chuki hapo.

 

[FJM]

NSSF wana uwezo wa kutengeneza faida kubwa zaidi ya hiyo waliyopata kwa sababu hawana liability kubwa when it comes to No. of Pensioners. Kumbuka walikuwa NPF (Provident Fund) lakini sasa ni fully fledged Pension Fund. Kwa hiyo hela wanayokusanya (na ni nyingi) bado kwao ni mtaji.

Hata hivyo Sector hii ya mifuko ya hifadhi ya jamii Tanzania ni total chaos. Hela zinapotea nyingi sana kwenye management ya hii mifuko na sioni ni kwanini tuwe na mufuko mingi kiasi hicho. We only need two. basi. Mfuko mmoja uhusike na wafanyakazi wa umma, na mfuko mwingine uhusike na wafanyakazi wa private sector. Hakuna haja ya kuwa huu utitiri.

 

[Donyongijape]

Kwanini sasa wanasita kutoa taarifa? Kama kila kitu kiko sawasawa! Tusianze kupika mahesabu hapa tukajikuta tunaamini kuna faida kumbe kuna hasara za kufa mtu.

Acha porojo..soma post yangu hapo. Tena ngoja nikupe mwanga, nenda pale floor ya 15 kwa Public affairs utapata annual reports sio unalala lala tuu!

Mmmh, Ila bahati mbaya unaoneka hutaziamini maana umeshaweka ubongo wako kwenye mlengo wa kwamba zinapikwa..kalaghabao!