Pensioners advise workers: Avoid withdrawal from pension schemes

By The guardian reporter

Parastatal Pensions Fund (PPF)

Some pensioners and beneficiaries of the pension schemes have urged workers and self employed people to continue contributing money to pension funds because it would save them when they retire from active work.

Speaking at the just ended 23rd PPF pensions fund members and stakeholders conference held in Arusha, a pensioner identified as Samson Kibonde, urged members not to withdraw from pension schemes in case they face any problem.

“You do not have to worry, or withdraw money from the scheme, instead continue to make your contributions which would save you once you get old,” he said.

Kibonde, a former staff of Tanzania Ports Authority who retired in 2007 said retirement benefits play a crucial role in the life of pensioners.

“I have been receiving my monthly pension benefits from PPF, which have changed life tremendously. My life is incomparable to that of others who have never joined the scheme or have withdrawn from it,” he said.
He said the monthly pension has enabled him to complete his house, improve agricultural activities and support his family.

He urged workers who are about to retire not to fear anything since they would receive their money in full amount and hence enable them to meet various costs.

Another beneficiary identified as Peter Kaja, emphasized that Tanzanians should get prepared before retiring from active works by joining into pension schemes.

He hailed the PPF pensions Fund for supporting Savings and Cooperatives Societies in loans which have transformed their livelihood.

“I am a member of TSN Saccos where I took a loan of 18m/- and invested in onion farming which yielded high returns,” he said.

Kaja said he repaid the loan and managed to build a guest house at his home place, pay school fees for his children and meet other social responsibilities. 

SOURCE: THE GUARDIAN