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{
    "id": 568332,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/568332/?format=api",
    "text_counter": 393,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "When you get concerned about the welfare of the citizens and ensure that not only their properties but their monies are also secure, you give them an opportunity to save and the employers also protect their interests. Retirement schemes should protect the workers. We know that most of the functions or opportunities have gone to the counties and many Kenyans have moved from Nairobi City back to the countryside. This is after they have worked very hard; saved their money in the previous scheme that was called the Local Authority Pension Trust (LAPTRUST) and now the Local Authorities Provident Fund (LAPFUND). We must protect and ensure that these monies are remitted into a joint account where they will be protected. We do not want to build other monsters like the NSSF where people do not even know that they have money. Even the so-called elite, who are aware, are unable to trace the money when they follow up. We cannot accept that and so, we urge all the stake holders--- I have seen a report that shows that the Mover and the Committee concerned have involved so many stakeholders who have given their contributions and response. This confirms that it is a very important issue and useful that all people know. Mr. Temporary Speaker, Sir, we have dealt with workers problems and seen the way they suffer once they retire. Many of the workers even the ones who got the golden handshake especially the subordinate staff, who were given Kshs40,000 all inclusive, that money was not even enough to move them from cities to their rural homes. We saw most of them die within the first one month because of shock and lack of support after they had retired. When you retire, it is just like losing your job since you will no longer be on the payroll of anybody. Once you have some money secured, this institution is able to invest and you are sure of even getting dividends in retirement, then that is the best way to go. I have seen the Bill and it is thorough. It has considered all the aspects that will ensure these finances are secure and will suit whichever employer or generation. This will ensure that the money is safe. The Board members are there to protect the institution. With those few remarks, I beg to support."
}