Social Security Regulatory Authority takes off July JIANG ALIPO, 26th March 2009 @ 10:00 A body that will have to supervise and regulate all the activities of social security funds in the country, the Social Security Regulatory Authority, is expected to become operational by July 1, this year. The Labour Commissioner in the Ministry of Labour, Employment and Youth Development, Mr David Kaali, confirmed today that the procedures to establish the body were in the final stages and would be finalized by June. Our social security sector has more than six funds, so there is a need to establish a body to regulate their operations, to make sure that the interest of their members are always taken into account, said Mr Kaali. He was speaking at a one day consultancy meeting of stakeholders of the social security sector, including representatives of the social security funds, to discuss and provide input to improve the bodys regulations, rules, guidelines and forms. Some of the functions of the proposed Regulatory Authority are to register the schemes and issues guidelines for the effective and efficient operation of the sector for the benefit of its members. This is for the interest of all stakeholders in the social security sector, the employees, the employers, the general public and the government, said Prof Josephat Kanywanyi, who is a member of the steering committee involved in setting up the guidelines. The Commissioner promised better conditions in the social security sector, saying: There will be improvement in this sector, as most of the changes will be for the benefits of the members. Some of the major changes that will be brought about by the Regulatory Authority are those which will prohibit withdrawal of pension benefits from the pension fund before retirement. We are the only country in the world that allows people to withdraw their pension benefits before retirement, this authority will put an end as the money are to help members when they retire not otherwise, said Prof Kanywanyi. The Social Security Regulatory Act also provides for the establishment of the Social Security Tribunal, which shall have jurisdiction on appeals against the decisions of the authority HIVI HII NCHI TUTAPATA MAENDELEO KWELI kwa kuendekeza haya ma Regulatory Authority? tuna mashirika mengi sana ambayo hayazalishi na yanatumia pesa nyingi sana za walalahoi, yanafilisi tu. hivi watanzania hawawezi kuwajibika mpaka kila kitu kianzishiwe Regulatory Authority? wizi mtupu!!!