By Henry Muhanika
3rd April 2011
An important event took place during the last week of this month, only to be overshadowed by more dramatic and sensational ones like new angles of the Loliondo magical healer story, the fatal road accident which claimed the lives of 13 musicians and left several others wounded, the military bombardment of Gaddafi’s Libya by the bully nations of this world, and the dangerous leakage in Japanese nuclear installations, triggered by one of the most deadly earthquakes in many years.
With such events dominating the news in the local and international media, the launch of the National Social Security Regulatory Authority (SSRA) was received a bit casually, the fact that the President himself was a guest of honour at the event notwithstanding.
Since the Act to establish the Authority was passed by the Parliament in 2008, its take off may be said to have come a bit late, given the importance of the institution to the wellbeing of Tanzanians, and the eagerness with which it was awaited by those who appreciate its role in society.
But considering that we live in an environment where so many things seem to be priorities and economic planners have to work overtime on permutations and combinations of how to make maximum use of our limited financial resources, the fact that the Authority is finally here is itself a big relief.
Why do we consider the formation and operation of the Authority to regulate social security and pension activities an important development in our society? A clear picture of what is at stake here can be obtained by examining, albeit briefly, the role and importance of such an institution in the community at this particular moment in history.
It is, after all, not without good reasons that before deciding to have a regulator, our nation had put in place 6 social security related institutions.
These include the National Social Security Fund (NSSF), the Parastatals Pension Fund (PPF), the Local Authorities Pension Fund (LAPF), the Public Service Pension Fund (PSPF), the Government Employees Pension Fund (GEPF) and the National Health Insurance Fund (NHIF).
All the above mentioned institutions have been established by law, collect workers’ contributions, manage the funds, and provide relief money during moments of need like sickness, injury, pregnancy, post retirement period and even when death strikes.
This, in a nutshell, is what social security is about. In order to provide more and substantial benefits to members, social security institutions are expected to invest some of the collected funds in viable economic activities so as to generate profit and expand the capital in the interests of these on board.
Of course some of the fore-mentioned activities are easily said than done by our social security institutions as past experience has, unfortunately, clearly shown. We have had cases where some of the social security and pension institutions have misused, misallocated, and even wrongly invested members’ money, to the point of failing to provide timely benefits to owners while in need, as specified in the contracts between the two parties!
This is where the regulator’s services come in handy. Those conversant with this sector note that giving social security and pension institutions a free hand to manage huge funds without a regulator was a serious administrative oversight which, unfortunately, has unnecessarily taken a long time to see and address promptly. Now that there is a regulator, it is hoped that most of the past mistakes will remain part of history.
But the new regulatory authority still has a bigger mountain to climb. The social security institutions it is supposed to regulate cater for a negligible percentage of the population, that is a few salary earning workers, as not even all those employed in the formal sector are subscribers.
In short, millions of Tanzanians are not embraced in this undeveloped social security system. This is happening at a time when the world is experiencing all sorts of complications, both natural and man-made ones, which have increased social insecurity.
Under these circumstances, the success or failure of the newly launched regulatory outfit will be gauged on how it manages or fails to put in place a social security system which will provide these vital services to the majority of Tanzanians who need them urgently.
Some observers are of the opinion that the proposed new constitution can make the regulator’s work easier if it addresses the issue seriously and give the new institution adequate powers.
Henry Muhanika is a Media Consultant hmuhanika@yahoo.com
SOURCE: GUARDIAN ON SUNDAY
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Monday, July 4, 2011
SSRA: Social security funds want their laws amended first
By Joseph Mchekadona
8th March 2011
The Social Security Regulatory Authority (SSRA) has said all the six Social Security Funds in the country have sought request from the regulatory body to continue using their current laws while waiting for amendments to recognise the existence of the new authority.
SSRA chairman Juma Siraju Kaboyonga said this in Dar es Salaam last week at a meeting organised by the authority to share ideas between the authority and the social security funds.
He said SSRA at the meeting proposed that security funds laws must change to create a harmonious climate between them and the authority, but the funds asked for time to amend their laws.
“We had a good meeting with all the six social security funds and we proposed to them that they change the SSRA law, but they asked for more time to start amending theirs,” he said.
Kaboyonga said SSRA agreed that the actual valuation on how the social security funds can operate should be done before the existing ones.
He named the funds that attended as National Social Security Fund (NSSF), Parastatal Pensions Fund (PPF), Government Employees Pension Fund (GEPF), Public Sector Pension Fund (PSPF), Local Authority Pension Fund (LAPF) and National Health Insurance Fund (NHIF)
The meeting between the two organisations was organised amid allegations that some of the funds are investing in unviable projects, lending to non-members and taking overly long to issue members’ benefits.
So far some social security funds have invested in investments which they claim give high returns and also improve the public’s welfare.
SOURCE: THE GUARDIAN
8th March 2011
The Social Security Regulatory Authority (SSRA) has said all the six Social Security Funds in the country have sought request from the regulatory body to continue using their current laws while waiting for amendments to recognise the existence of the new authority.
SSRA chairman Juma Siraju Kaboyonga said this in Dar es Salaam last week at a meeting organised by the authority to share ideas between the authority and the social security funds.
He said SSRA at the meeting proposed that security funds laws must change to create a harmonious climate between them and the authority, but the funds asked for time to amend their laws.
“We had a good meeting with all the six social security funds and we proposed to them that they change the SSRA law, but they asked for more time to start amending theirs,” he said.
Kaboyonga said SSRA agreed that the actual valuation on how the social security funds can operate should be done before the existing ones.
He named the funds that attended as National Social Security Fund (NSSF), Parastatal Pensions Fund (PPF), Government Employees Pension Fund (GEPF), Public Sector Pension Fund (PSPF), Local Authority Pension Fund (LAPF) and National Health Insurance Fund (NHIF)
The meeting between the two organisations was organised amid allegations that some of the funds are investing in unviable projects, lending to non-members and taking overly long to issue members’ benefits.
So far some social security funds have invested in investments which they claim give high returns and also improve the public’s welfare.
SOURCE: THE GUARDIAN
Govt mulls new Bill on free social services for the elderly
By Patrick Kisembo
16th February 2011
Deputy Minister Dr Lucy Nkya
The Ministry of Health and Social Welfare is planning to draft a Bill on free social services for the elderly, Parliament was told yesterday.
Responding to a basic questioned posed by Bukombe Member of Parliament (Chadema), Prof Kulikoyela Kahigi, Deputy Minister Dr Lucy Nkya said the law was in the pipeline.
The MP had wanted to know government plans on supporting the elderly, especially those lacking families or relatives to take care of them.
Nkya said the Bill, among other things, would propose that all elderly the be allowed to access essential social services by using special identity cards.
In the meantime, the deputy minister said the government had already directed all regional medical doctors to create a special window for the elderly and ensure that the windows have a medical doctor and professional social welfare officer.
She also informed the House that the government was implementing a lot of plans in taking care of the elderly, naming some of them, as creating special homes for them and facilitating the private sector to do the same.
Nkya said the government operated a total of 17 homes for the elderly and voluntary agents running similar centres on private basis operates an additional 24 homes are located in different parts of the country.
Additionally, she said the ministry through social welfare department provides human support like money to the elderly and assist them to establish small scale businesses.
Dr Nkya said currently, the government was preparing a social protection framework, which would be looking at basic needs of the needy groups living in difficult environments, including the elderly.
“We are working in collaboration with district, municipal, towns and city councils to ensure needs of the elderly are included in the councils’ development plans,” said the deputy minister.
SOURCE: THE GUARDIAN
16th February 2011
Deputy Minister Dr Lucy Nkya
The Ministry of Health and Social Welfare is planning to draft a Bill on free social services for the elderly, Parliament was told yesterday.
Responding to a basic questioned posed by Bukombe Member of Parliament (Chadema), Prof Kulikoyela Kahigi, Deputy Minister Dr Lucy Nkya said the law was in the pipeline.
The MP had wanted to know government plans on supporting the elderly, especially those lacking families or relatives to take care of them.
Nkya said the Bill, among other things, would propose that all elderly the be allowed to access essential social services by using special identity cards.
In the meantime, the deputy minister said the government had already directed all regional medical doctors to create a special window for the elderly and ensure that the windows have a medical doctor and professional social welfare officer.
She also informed the House that the government was implementing a lot of plans in taking care of the elderly, naming some of them, as creating special homes for them and facilitating the private sector to do the same.
Nkya said the government operated a total of 17 homes for the elderly and voluntary agents running similar centres on private basis operates an additional 24 homes are located in different parts of the country.
Additionally, she said the ministry through social welfare department provides human support like money to the elderly and assist them to establish small scale businesses.
Dr Nkya said currently, the government was preparing a social protection framework, which would be looking at basic needs of the needy groups living in difficult environments, including the elderly.
“We are working in collaboration with district, municipal, towns and city councils to ensure needs of the elderly are included in the councils’ development plans,” said the deputy minister.
SOURCE: THE GUARDIAN
SSRA:Fragmented social security laws need to be harmonised
By Joseph Mchekadona
17th February 2011
The newly established Social Security Regulatory Authority (SSRA) has said the country’s laws on pension funds need to be harmonised to enable the pension providers offer better services to clients.
Speaking in Dar es Salaam yesterday, SSRA chairman Juma Siraju Kaboyonga said the laws, in their current state contravenes International Labour Organisation laws.
He said ILO laws require all social security providers in a given country not to have fragmented legal and regulatory framework.
He said six social security providers in Tanzania are under different ministries, the development of which makes them offer different benefit packages.
Explaining, he said, Parastatal Pension Fund (PPF), Public Service Pension Fund (PSPF) and Government Employers Pension Fund (GEPF) are under the Ministry of Finance and Economic Affairs, while National Social Security Fund (NSSF) reports to the Ministry of Labour, Youth and Employment.
He further explained that the Local Authority Pensions Fund (LAPF) and National Health Insurance Found (NHIF) reports to the Prime Minister’s Office—Regional Administration and Local Governments and the Ministry of Health and Social Welfare respectively.
Kaboyonga said workers of same profession were receiving different pension packages because their social security organisations reports to different ministries.
“Two people of the same profession get employment on the same date, but because circumstances may make them to join different social security funds, they end up getting different packages because their respective pension funds report to different ministries,” he noted.
He also mentioned other reasons which affect the funds as having different Investment policies, lack of transferability, unreliable data and lack of segmentation of benefits.
The SSRA chairman mentioned some of the challenges facing social security organisations as high costs of administration, premature withdraws, lack of awareness of the funds’ activities by members of the public and application of different pension factors.
“Social security organisations in the country are facing many challenges which make the industry looks less beneficial to the stakeholders,” he said.
He said his organisation will make sure that interests of social security members are protected, extension of social security coverage is facilitated on non covered areas to include informal groups, studies on the same are initiated and reforms in the social services sector are coordinated.
He also said that his organisation will create a conducive environment for the promotion and development of the social security sector and advise the minister on all policy and operations of the social security sector.
“We will work extra hard to see that all Tanzanians benefit from the funds by among other things, advise the respective ministers correctly on all policies and operations of the social security sector,” he said.
SSRA was established under the Social Security Regulatory Act No. 8 of 2008 and its main objectives are to regulate the social security sector.
SOURCE: THE GUARDIAN
17th February 2011
The newly established Social Security Regulatory Authority (SSRA) has said the country’s laws on pension funds need to be harmonised to enable the pension providers offer better services to clients.
Speaking in Dar es Salaam yesterday, SSRA chairman Juma Siraju Kaboyonga said the laws, in their current state contravenes International Labour Organisation laws.
He said ILO laws require all social security providers in a given country not to have fragmented legal and regulatory framework.
He said six social security providers in Tanzania are under different ministries, the development of which makes them offer different benefit packages.
Explaining, he said, Parastatal Pension Fund (PPF), Public Service Pension Fund (PSPF) and Government Employers Pension Fund (GEPF) are under the Ministry of Finance and Economic Affairs, while National Social Security Fund (NSSF) reports to the Ministry of Labour, Youth and Employment.
He further explained that the Local Authority Pensions Fund (LAPF) and National Health Insurance Found (NHIF) reports to the Prime Minister’s Office—Regional Administration and Local Governments and the Ministry of Health and Social Welfare respectively.
Kaboyonga said workers of same profession were receiving different pension packages because their social security organisations reports to different ministries.
“Two people of the same profession get employment on the same date, but because circumstances may make them to join different social security funds, they end up getting different packages because their respective pension funds report to different ministries,” he noted.
He also mentioned other reasons which affect the funds as having different Investment policies, lack of transferability, unreliable data and lack of segmentation of benefits.
The SSRA chairman mentioned some of the challenges facing social security organisations as high costs of administration, premature withdraws, lack of awareness of the funds’ activities by members of the public and application of different pension factors.
“Social security organisations in the country are facing many challenges which make the industry looks less beneficial to the stakeholders,” he said.
He said his organisation will make sure that interests of social security members are protected, extension of social security coverage is facilitated on non covered areas to include informal groups, studies on the same are initiated and reforms in the social services sector are coordinated.
He also said that his organisation will create a conducive environment for the promotion and development of the social security sector and advise the minister on all policy and operations of the social security sector.
“We will work extra hard to see that all Tanzanians benefit from the funds by among other things, advise the respective ministers correctly on all policies and operations of the social security sector,” he said.
SSRA was established under the Social Security Regulatory Act No. 8 of 2008 and its main objectives are to regulate the social security sector.
SOURCE: THE GUARDIAN
Social security schemes have duty to bail us out
By Editor
31st December 2010
It doesn’t take long searching on the internet for one to come across a January 2003 document attributed to the Ministry of Labour, Youth Development and Sports and reading: ‘The United Republic of Tanzania - The National Social Security Policy’.
Although it is not clear to what extent or depth the document has been updated since it was first drawn up, what it says about the objectives of social security services generally tallies with what social security institutions in existence in the country give as their vision or mission.
Some of the explanation is obvious, such as that social security covers a wide variety of public and private measures meant to provide benefits when individual members are unable to avoid poverty after their income-earning power ceases or is otherwise interrupted.
The document elaborates on the key elements of the social security system in Tanzania, among them non-contributory schemes catering for people with disabilities, elderly people and unsupported parents and children unable to fend for themselves.
There are also mandatory schemes, under which members remit regular contributions through their employers to pension or provident funds, with employers also acting similarly.
However, in a candid admission, the policy says inadequate financing and disjointed institutional arrangements have denied the majority of Tanzanians the benefits offered by social security schemes.
By the time the policy was unveiled, when the country had a population of roundabout 33.5 million, it was reported that 5.4 per cent of the labour force – or 2.7 per cent of the population – was covered by the mandatory formal social security system.
Many saw this as spelling grave danger in that informal, that is, family and community support did not guarantee sustainable social security within different social groups.
The country now boasts of a National Social Security Fund, a Parastatal Pension Fund, a Public Service Pension Fund, a Local Authorities Provident Fund, and a National Health Insurance Fund.
Officially, NSSF covers employees of the private sector and non-pensionable parastatal and government employees, PSPF and NHIF cater for central government employees under pensionable terms, PPF concerns itself with employees of both private and parastatal organisations, and LAPF takes care of local government employees.
In sum, even all these schemes combined do not cover all people to be found in the formal employment sector, one explanation being structural, operational and policy weaknesses inherent in the country’s social security system.
This is precisely why the Social Security Regulatory Authority has formed a task force to make a thorough review of the legal and control frameworks governing the operations of social security schemes at play in the country, whose role is widely acknowledged as crucial and sensitive.
Social security cover is basic human right to be enjoyed by every member of society, the only difference being the degree of its accessibility. If anything, the elderly, people with disabilities and the unemployed need it most.
These are hard economic times, and it’s high time our social security schemes did more to bail the nation out the mess it is in. The naming of the task force is to be applauded, as the fruits of its work are eagerly awaited.
SOURCE: THE GUARDIAN
31st December 2010
It doesn’t take long searching on the internet for one to come across a January 2003 document attributed to the Ministry of Labour, Youth Development and Sports and reading: ‘The United Republic of Tanzania - The National Social Security Policy’.
Although it is not clear to what extent or depth the document has been updated since it was first drawn up, what it says about the objectives of social security services generally tallies with what social security institutions in existence in the country give as their vision or mission.
Some of the explanation is obvious, such as that social security covers a wide variety of public and private measures meant to provide benefits when individual members are unable to avoid poverty after their income-earning power ceases or is otherwise interrupted.
The document elaborates on the key elements of the social security system in Tanzania, among them non-contributory schemes catering for people with disabilities, elderly people and unsupported parents and children unable to fend for themselves.
There are also mandatory schemes, under which members remit regular contributions through their employers to pension or provident funds, with employers also acting similarly.
However, in a candid admission, the policy says inadequate financing and disjointed institutional arrangements have denied the majority of Tanzanians the benefits offered by social security schemes.
By the time the policy was unveiled, when the country had a population of roundabout 33.5 million, it was reported that 5.4 per cent of the labour force – or 2.7 per cent of the population – was covered by the mandatory formal social security system.
Many saw this as spelling grave danger in that informal, that is, family and community support did not guarantee sustainable social security within different social groups.
The country now boasts of a National Social Security Fund, a Parastatal Pension Fund, a Public Service Pension Fund, a Local Authorities Provident Fund, and a National Health Insurance Fund.
Officially, NSSF covers employees of the private sector and non-pensionable parastatal and government employees, PSPF and NHIF cater for central government employees under pensionable terms, PPF concerns itself with employees of both private and parastatal organisations, and LAPF takes care of local government employees.
In sum, even all these schemes combined do not cover all people to be found in the formal employment sector, one explanation being structural, operational and policy weaknesses inherent in the country’s social security system.
This is precisely why the Social Security Regulatory Authority has formed a task force to make a thorough review of the legal and control frameworks governing the operations of social security schemes at play in the country, whose role is widely acknowledged as crucial and sensitive.
Social security cover is basic human right to be enjoyed by every member of society, the only difference being the degree of its accessibility. If anything, the elderly, people with disabilities and the unemployed need it most.
These are hard economic times, and it’s high time our social security schemes did more to bail the nation out the mess it is in. The naming of the task force is to be applauded, as the fruits of its work are eagerly awaited.
SOURCE: THE GUARDIAN
Regulatory authority for pension schemes on the drawing board
By Daniel Ondigo
19th September 2010
A social security regulatory authority vested with the task of reviewing each pension scheme operating in the country is underway, and according to the treasury, it will enhance workers’ savings apart from protecting them.
The Permanent Secretary in the Ministry of Finance and Economic Affairs, Ramadhani Kijjah, says the government has started working on the guidelines for the operations of the authority that will streamline the present schemes, to make them more efficient, and enable members to be the main beneficiaries.
Kijjah made the revelations during the annual members’ conference of the Parastatal Pension Fund here, where he also said that already draft guidelines for the regulator were prepared by stakeholders within and outside the country.
The law that establishes an independent regulator of social security schemes was enacted in 2008 and the regulator will help pension funds to operate more efficiently and ensure their members are the main beneficiaries of respective schemes.
According to the permanent secretary, once the social security regulator gets in place, the number of employees joining pension schemes is expected to swell, especially now as the country opens its doors for the East Africa Common Market.
Solutions to long-term challenges facing pension schemes in the country, including continued fall in the interest rate in the money market, delay in contribution remittances from some employers, early withdrawal of benefits by members when changing employment and HIV/Aids pandemic, can easily be reached when stakeholders are under one umbrella.
He said the government will continue taking legal action against employers who delay remittance of employees’ contributions to ensure timely processing and settlement of members’ claims upon leaving their jobs.
“We see this as a positive move as the new law will require managers and custodians to invest pensions according to laid down criteria while the Bank of Tanzania will, in collaboration with the authority, issue the investment guidelines,” said Khijja, adding that the central bank will have powers to regulate and supervise the schemes' finances and ensure compliance to the guidelines by the managers and custodians.
Presenting the performance report for the year 2009 on behalf of the board of trustees of PPF, William Erio, the PPF Director General, said the fund had registered real GDP growth rate of 6.0 per cent against 7.4 per cent brought in record in 2008, attributing the decline to the global fiscal crisis experienced towards the end of 2008 which had an impact on hey sectors including agriculture, mining, tourism, horticulture and manufacturing which contributes significantly to the economic growth and employ hundreds of PPF members.
During the year 2009, he said the interest rate continued to be influenced by the treasury bills and bond market. The overall weighted average rate on time deposit decreased slightly from 6.63 per cent in December 2008 to 6.36 per cent in December 2009, while 12 month time deposit rate increased from 8.48 per cent in December 2008 to 8.99 per cent in December 2009.
The funds currently operating in the country are National Social Security Fund (NSSF), Parastatal Pension Fund (PPF), Government Employees Pension Fund (GEPF), Public Sector Pension Fund (PSPF) and Local Authority Pension Fund (LAPF).
Meanwhile, Tanganyika Plantation Company (TPC) and Moshi University College of Co-operative and Business Studies (MUCCOBS), both in Moshi Municipality, Kilimanjaro Region, emerged top for timely submission of their workers’ contributions to the Parastatal Pension Fund.
The two parastatals were awarded trophies and certification of participation at the conference.
Reading the scores before PPF board of directors, members, invited guest from various countries, the PPF Deputy Chairman, Dr Kassim Kapalata said the two parastatals shined in both Agriculture and Education and training categories respectively, followed by Uniliver Tanzania Limited and Sokoine University of Agriculture under the respective group.
Other categories that were mentioned during the occasion that attracted hundreds of participants from government and parastatals were from mining, transport and communication, finance, health and construction, while others were derived from Trade and Industry, Media and other services.
Under the mining category, Geita Gold Mine was awarded for leading in timely submission of its workers’ pension contribution, followed by Kahama Mining cooperation and Barick North Mara mining company. The mining parastatals were also awarded with both certificate of participation and trophies.
Other parastatals according to Kapalata, included Tanzania Electric Supply Company Limited (TANESCO) and Tanzania Telecommunication Company Limited (transport and communication), Bank of Tanzania and National Bank of Commerce (finance sector) and Muhimbili National Hospital Africa Medical Research Foundation (Amref) - Health sector.
The construction sector was lead by Tanga Cement Company followed by Mbeya Cement Company while trade and industry was lead by Tanzania Breweries Limited, Tanzania Tobacco Processors Limited.
Tanzania Standard (Newspapers) Limited emerged the best in media sector, followed by Tanzania Broadcasting Corporation (TBC) and Aboud Media while under other services; Ultimate Security Limited and KK security Limited were short-listed as among the winning parastatals.
Self-employed locals whose contributions were acknowledged included Elias Samuel, a foreign investor working with the Philips electronics and a local investor, Philip Ndinda.
Giving his vote of thanks on behalf of other PPF clients, Kelvin Felix commended the PPF management team for the motivating awards, urging other pension organizations to borrow a leaf.
Through the annual conferences held by the PPF, Felix said the relationship between PPF and its clients has remained intact, adding that more education on financial management to the retirees is needed if they have to use their pension profitably.
SOURCE: GUARDIAN ON SUNDAY
19th September 2010
A social security regulatory authority vested with the task of reviewing each pension scheme operating in the country is underway, and according to the treasury, it will enhance workers’ savings apart from protecting them.
The Permanent Secretary in the Ministry of Finance and Economic Affairs, Ramadhani Kijjah, says the government has started working on the guidelines for the operations of the authority that will streamline the present schemes, to make them more efficient, and enable members to be the main beneficiaries.
Kijjah made the revelations during the annual members’ conference of the Parastatal Pension Fund here, where he also said that already draft guidelines for the regulator were prepared by stakeholders within and outside the country.
The law that establishes an independent regulator of social security schemes was enacted in 2008 and the regulator will help pension funds to operate more efficiently and ensure their members are the main beneficiaries of respective schemes.
According to the permanent secretary, once the social security regulator gets in place, the number of employees joining pension schemes is expected to swell, especially now as the country opens its doors for the East Africa Common Market.
Solutions to long-term challenges facing pension schemes in the country, including continued fall in the interest rate in the money market, delay in contribution remittances from some employers, early withdrawal of benefits by members when changing employment and HIV/Aids pandemic, can easily be reached when stakeholders are under one umbrella.
He said the government will continue taking legal action against employers who delay remittance of employees’ contributions to ensure timely processing and settlement of members’ claims upon leaving their jobs.
“We see this as a positive move as the new law will require managers and custodians to invest pensions according to laid down criteria while the Bank of Tanzania will, in collaboration with the authority, issue the investment guidelines,” said Khijja, adding that the central bank will have powers to regulate and supervise the schemes' finances and ensure compliance to the guidelines by the managers and custodians.
Presenting the performance report for the year 2009 on behalf of the board of trustees of PPF, William Erio, the PPF Director General, said the fund had registered real GDP growth rate of 6.0 per cent against 7.4 per cent brought in record in 2008, attributing the decline to the global fiscal crisis experienced towards the end of 2008 which had an impact on hey sectors including agriculture, mining, tourism, horticulture and manufacturing which contributes significantly to the economic growth and employ hundreds of PPF members.
During the year 2009, he said the interest rate continued to be influenced by the treasury bills and bond market. The overall weighted average rate on time deposit decreased slightly from 6.63 per cent in December 2008 to 6.36 per cent in December 2009, while 12 month time deposit rate increased from 8.48 per cent in December 2008 to 8.99 per cent in December 2009.
The funds currently operating in the country are National Social Security Fund (NSSF), Parastatal Pension Fund (PPF), Government Employees Pension Fund (GEPF), Public Sector Pension Fund (PSPF) and Local Authority Pension Fund (LAPF).
Meanwhile, Tanganyika Plantation Company (TPC) and Moshi University College of Co-operative and Business Studies (MUCCOBS), both in Moshi Municipality, Kilimanjaro Region, emerged top for timely submission of their workers’ contributions to the Parastatal Pension Fund.
The two parastatals were awarded trophies and certification of participation at the conference.
Reading the scores before PPF board of directors, members, invited guest from various countries, the PPF Deputy Chairman, Dr Kassim Kapalata said the two parastatals shined in both Agriculture and Education and training categories respectively, followed by Uniliver Tanzania Limited and Sokoine University of Agriculture under the respective group.
Other categories that were mentioned during the occasion that attracted hundreds of participants from government and parastatals were from mining, transport and communication, finance, health and construction, while others were derived from Trade and Industry, Media and other services.
Under the mining category, Geita Gold Mine was awarded for leading in timely submission of its workers’ pension contribution, followed by Kahama Mining cooperation and Barick North Mara mining company. The mining parastatals were also awarded with both certificate of participation and trophies.
Other parastatals according to Kapalata, included Tanzania Electric Supply Company Limited (TANESCO) and Tanzania Telecommunication Company Limited (transport and communication), Bank of Tanzania and National Bank of Commerce (finance sector) and Muhimbili National Hospital Africa Medical Research Foundation (Amref) - Health sector.
The construction sector was lead by Tanga Cement Company followed by Mbeya Cement Company while trade and industry was lead by Tanzania Breweries Limited, Tanzania Tobacco Processors Limited.
Tanzania Standard (Newspapers) Limited emerged the best in media sector, followed by Tanzania Broadcasting Corporation (TBC) and Aboud Media while under other services; Ultimate Security Limited and KK security Limited were short-listed as among the winning parastatals.
Self-employed locals whose contributions were acknowledged included Elias Samuel, a foreign investor working with the Philips electronics and a local investor, Philip Ndinda.
Giving his vote of thanks on behalf of other PPF clients, Kelvin Felix commended the PPF management team for the motivating awards, urging other pension organizations to borrow a leaf.
Through the annual conferences held by the PPF, Felix said the relationship between PPF and its clients has remained intact, adding that more education on financial management to the retirees is needed if they have to use their pension profitably.
SOURCE: GUARDIAN ON SUNDAY
EC advocates improved security for relief workers
By The guardian reporter
20th August 2010
Over 100 humanitarian workers were killed and many more were injured in various incidents worldwide last year, the European Commission (EC) said in a statement yesterday.
In the statement, which was issued to mark the World’s Humanitarian Day, the EC called for improved security of relief workers and respect of humanitarian principles, saying that it honoured humanitarian workers who have lost their lives or freedom, or have been injured while executing their duties.
Quoting the UN Office for the Co-ordination of Humanitarian Affairs' (OCHA) latest statistics, the EC also informed that 92 workers were also kidnapped.
It said the Commission, through its Humanitarian Aid department (ECHO), has staff permanently present in crisis spots around the world.
Kristalina Georgieva, European Commissioner for International Cooperation charged with Humanitarian Aid and Crisis Response, said: "World Humanitarian Day gives us the opportunity to reflect on the importance of humanitarian work in saving lives and providing for people in need wherever they may be.”
She said relief workers serve humanity, often in very perilous circumstances. “We have seen them extending help to victims of earthquakes fires and floods. But it is in conflict zones where their lives are most at risk,” said Georgieva, adding:
“There is an alarming trend to target these dedicated people. We must protect the safety of humanitarian workers so they can work wherever they are needed.
To do this, I will continue to raise awareness of the worsening security conditions for those who put their lives at risk to save the lives of others.”
The EC commissioner said it’s paramount that the core principles of humanitarian aid: humanity, impartiality, neutrality and independence are understood and respected.
“We must stop the shooting of humanitarian workers -- when they are hurt, so is the hope in the future of our children,” she said.
The World Humanitarian Day was established by the General Assembly of the United Nations in 2008 and commemorated for the first time last year to increase public awareness about humanitarian work and the importance of international cooperation.
SOURCE: THE GUARDIAN
20th August 2010
Over 100 humanitarian workers were killed and many more were injured in various incidents worldwide last year, the European Commission (EC) said in a statement yesterday.
In the statement, which was issued to mark the World’s Humanitarian Day, the EC called for improved security of relief workers and respect of humanitarian principles, saying that it honoured humanitarian workers who have lost their lives or freedom, or have been injured while executing their duties.
Quoting the UN Office for the Co-ordination of Humanitarian Affairs' (OCHA) latest statistics, the EC also informed that 92 workers were also kidnapped.
It said the Commission, through its Humanitarian Aid department (ECHO), has staff permanently present in crisis spots around the world.
Kristalina Georgieva, European Commissioner for International Cooperation charged with Humanitarian Aid and Crisis Response, said: "World Humanitarian Day gives us the opportunity to reflect on the importance of humanitarian work in saving lives and providing for people in need wherever they may be.”
She said relief workers serve humanity, often in very perilous circumstances. “We have seen them extending help to victims of earthquakes fires and floods. But it is in conflict zones where their lives are most at risk,” said Georgieva, adding:
“There is an alarming trend to target these dedicated people. We must protect the safety of humanitarian workers so they can work wherever they are needed.
To do this, I will continue to raise awareness of the worsening security conditions for those who put their lives at risk to save the lives of others.”
The EC commissioner said it’s paramount that the core principles of humanitarian aid: humanity, impartiality, neutrality and independence are understood and respected.
“We must stop the shooting of humanitarian workers -- when they are hurt, so is the hope in the future of our children,” she said.
The World Humanitarian Day was established by the General Assembly of the United Nations in 2008 and commemorated for the first time last year to increase public awareness about humanitarian work and the importance of international cooperation.
SOURCE: THE GUARDIAN
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