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Tanzania: Pensioners to Get Money Directly From Funds
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The Citizen (Dar es Salaam)
10 May 2008
Posted to the web 12 May 2008
Kagashe Beatus
The Government will soon start paying pensions directly through national security funds to expedite the process, a senior official said yesterday. Finance and Economic Affairs deputy minister Omar Yussuf Mzee said by August this year, his ministry, which is currently responsible for paying pensions through the Treasury, would leave the task to the respective Funds.
National security funds in the country include government employee's provident fund (GEPF), Local Authority Pension Funds (LAPT) and National Social Security Fund (NSSF) Others are the Parastatals and Pensioners funds (PPF), Public Sector Pensioners Funds (PSPF) and National Health Insurance funds (NHIF). Currently, many pensioners fail to get their money due to bureaucratic bungling that has largely been blamed on the parent ministry.
A significant number even fail to get the money from their savings at all, while those who receive pension do so after a frustrating process that can take months.
The deputy minister, however, said civil servants would now be able to benefit from the provident fund (GEPF) that provides loans to members before retirement. Members of the fund are allowed to borrow up to 40 per cent of their savings while still working.
Meanwhile, the Deputy Chairman of the directors of National security funds Mr Elias Nkuku said plans were underway to cover the informal sector as well.
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