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{
    "id": 1499787,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1499787/?format=api",
    "text_counter": 244,
    "type": "speech",
    "speaker_name": "The Senate Majority Leader",
    "speaker_title": "",
    "speaker": {
        "id": 440,
        "legal_name": "Onesimus Kipchumba Murkomen",
        "slug": "kipchumba-murkomen"
    },
    "content": "terms, applicable clauses, and organisation of state officer who shall join and the scope of the Bill, which is to the extent and range of those who may access services of this particular scheme. Part II of the Bill comprises clauses six to 21, which provide for the establishment of the scheme. It establishes the County Retirement Scheme Fund and its board of trustees. It provides the procedure for the appointment of the trustees and the necessary qualifications. We do not want any person who has the opportunity to arise and claim that they should be allowed the chance to run these schemes. We need qualified people. Madam Temporary Speaker, it provides that the trustees function and have powers and set tenures to three years, renewable ones based on their performance. Part Three of the Bill, comprising clauses 22 to 37, contains the provisions on the administration of the scheme and provides for the appointment of the fund managers and the custodian. It also sets out their functions, including those of the administrator, who is the CEO. Further, the part provides for membership of the scheme without a sponsor, thus vesting benefits, withdrawal from the retirement savings account, and retirement from the service, among other things. It sets out the prohibited payments from the scheme, which are the usual statutory requirements of any pension scheme. For those who follow how pension schemes operate, this is nothing new. Part Four of the Bill, which is Clauses 38 to 44, provides for the establishment and management of the county assembly's pension scheme fund, which contains financial provisions. It provides information on how surplus funds may be invested and sets out the requirements for the board to have a reserve account. A basic provision to ensure that for whatever reason, when members call upon the opportunity to draw from this fund, they have something that secures their future. It is important to ensure that our MCAs actually, just like the rest of all of us who work in one place or the other, have financial stability upon their retirement."
}