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{
    "id": 1121768,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1121768/?format=api",
    "text_counter": 184,
    "type": "speech",
    "speaker_name": "Kimilili, JP",
    "speaker_title": "Hon. Didmus Barasa",
    "speaker": {
        "id": 1885,
        "legal_name": "Didmus Wekesa Barasa Mutua",
        "slug": "didmus-wekesa-barasa-mutua"
    },
    "content": "This Bill seeks to ensure that pension schemes engage in meticulous planning so that a year before individuals retire, pension schemes begin to put their houses in order to ensure that monies for pension lump sums and monthly payments are available. This is because they will be fully aware that any delays occasioned by them will not only be criminal but punishable. Moreover, the Bill seeks to make it very clear that pension scheme trustees should begin to look for pensioners’ money to ensure that it is available to the owners upon retirement. Hon. Temporary Deputy Speaker, there is a reason as to why the Pensions Act was enacted. There is also a reason as to why Kenyan men and women felt that when people are actively employed, they need to save some money somewhere so as to access it upon retirement and use it to ensure that life continues even after retirement. The objectives are not being achieved because of the delays occasioned by pension schemes in releasing the money to its rightful owners. Therefore, this Bill seeks to ensure that the objective for which the Pensions Act was enacted is achieved. It seeks to ensure that the objective that the men and women of this country had in mind while setting up pension schemes – to ensure that employees save some money and access it upon retirement – is achieved."
}