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{
    "id": 1024184,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1024184/?format=api",
    "text_counter": 274,
    "type": "speech",
    "speaker_name": "Suba South, ODM",
    "speaker_title": "Hon. John Mbadi",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "It is a defined benefit scheme. Your benefit is defined and worked by the number of months you have served this Parliament divide by 300 months which is determined as the maximum. Then multiplied by your basic salary in the last 12 months and the formula goes on by multiplying by 3.75. If you come to my office, I can give you the full details. I think that is where confusion is arising. After that defined benefit our actuaries worked on how to sustain that scheme. They came up with a contribution that a Member must put every month. So, as Members of Parliament we contribute 12.6 per cent but this does not make it a defined contributory scheme. We make contributions to sustain the defined benefit scheme. I hope this is a bit clear."
}