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{
    "id": 1569818,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1569818/?format=api",
    "text_counter": 30,
    "type": "speech",
    "speaker_name": "Hon. John Mbadi",
    "speaker_title": "The Cabinet Secretary for National Treasury and Economic Planning",
    "speaker": null,
    "content": "(5) Development of an end-to-end pension administration system. The Government is investing in a modernised pension administration system that leverages advanced technology to improve efficiency and scrutiny. We are also integrating block chain and biometric technology, which will enhance the security of pension management, ensure real-time tracking of pension disbursement and eliminate delays in pension processing. Mr. Speaker, Sir, we are looking in terms of integration of the Integrated Financial Management Information System (IFMIS) for timely remittances. The aim here is to transfer retirees automatically from being employees earning a salary to retirees earning pension benefits without going through rigorous steps of processing your pension. It should be seamless such that when you retire, you should start getting your pension from one month to the next. These reforms collectively strengthen retirement security, improve pension fund sustainability and enhance post-retirement quality of life. Mr. Speaker, Sir, in conclusion, the National Treasury remains committed to ensuring that pension benefits for former MPs and all public service retirees are fair, sustainable and responsive to economic conditions. We will continue working with stakeholders to explore feasibility solutions that uphold fiscal responsibility while ensuring retirees receive their rightful entitlements. I thank you."
}