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{
    "id": 132921,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/132921/?format=api",
    "text_counter": 292,
    "type": "speech",
    "speaker_name": "Mr. Wamalwa",
    "speaker_title": "",
    "speaker": {
        "id": 148,
        "legal_name": "Eugene Ludovic Wamalwa",
        "slug": "eugene-wamalwa"
    },
    "content": "Mr. Deputy Speaker, Sir, before the interruption of business last time, I had indicated that this rule was introduced, restricting access to benefits and contribution by the employer. We have Kenyans who are affected by the global financial crisis. Over 10,000 of them lost their jobs. From records given to this House by the Ministry of Finance, when I raised this issue earlier, in the period between 2006 to date, over 25,000 Kenyans have been affected by this rule, and they are not allowed to access their employers’ contribution until they reach the retirement age. Indeed, this is a matter that has exposed Kenyans to great suffering. Thousands of lives have been affected. We do believe that the reason for any law is really for public good. This law was well intentioned. Indeed, it is meant to encourage the culture of saving in our society. It is also a law that was supposed to protect Kenyans from themselves. With what has been happening in the past, we have had Kenyans being given their retirement package and blowing it up overnight. We have had cases of some Kenyans marrying second wives after being paid their lumpsum retirement benefits. So, the law as it is, was intended to protect Kenyans from themselves. It was well intentioned. However, we need to look at what has resulted, in terms of suffering by those who have left employment earlier than their retirement age, there are many. There are many cases, but the one that touches me most was the story of a young man called James Gone. His case was touching because he lost his job at the age of 40. He had his employer’s contribution in excess of Kshs1.5 million, which he could not access. He had a house mortgage that had a balance of about Kshs750,000, but he could not access his money."
}