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{
    "id": 1127720,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1127720/?format=api",
    "text_counter": 614,
    "type": "speech",
    "speaker_name": "Bomet Central, JP",
    "speaker_title": "Hon. Ronald Tonui",
    "speaker": {
        "id": 1242,
        "legal_name": "Ronald Kiprotich Tonui",
        "slug": "ronald-kiprotich-tonui"
    },
    "content": "We need to ensure fast-tracking of pensions payment is encouraged and effected in this country, so that our people do not suffer. Currently, we have the Public Service Superannuation Scheme which is a good thing, of course, for those who are below the age of 45 years and those who are above who are also part of the current pension scheme. So, definitely, they have some of their money in the previous pensions’ scheme. There should be clarity on how they will get their money. This is because the money they are aware of is under the Superannuation Fund. Yet, the money they have worked for in the last 20 years is under the Pensions Fund. They need to be assured they will get their money either through the previous pensions’ scheme or the same amount will be transferred to the Superannuation Fund. So, they are guaranteed that after retiring, they will get all their money and will not be frustrated by the two different Funds - the current Pensions Fund and Superannuation Fund. I believe this will be highly frustrating especially for those who are over 45 years old going towards 50 and 60 years. They could have real issues. So, if these issues are clarified, our people will be assisted. Also, I believe this Pension Fund should be used to encourage investments in this country. As a Member has already mentioned, we also need to grow the Superannuation Scheme so that we can even use the funds for massive development projects. As we can see what is happening along Mombasa Road, some nice infrastructure is coming up and we know it is financed through a loan from outside. If we grow that Superannuation Fund and it becomes huge, I am very sure we will be able to borrow from it and invest towards improving the infrastructure in this country. Thank you, Hon. Temporary Deputy Speaker, for giving me the opportunity to comment on this."
}