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{
    "id": 800383,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/800383/?format=api",
    "text_counter": 203,
    "type": "speech",
    "speaker_name": "Sen. Sakaja",
    "speaker_title": "",
    "speaker": {
        "id": 13131,
        "legal_name": "Johnson Arthur Sakaja",
        "slug": "johnson-arthur-sakaja"
    },
    "content": "Mr. Deputy Speaker, Sir, I beg to move that the County Governments Retirement Scheme Bill (Senate Bills No.6 of 2018) be now read a Second Time. This Bill was published on 7th March, 2018 and read for the First Time in this House on 27th March, 2018. The principal object of this Bill is to establish the County Governments’ Retirement Scheme as a mandatory scheme for all county government officers, provide for the establishment of the Scheme’s Board of Trustees and provide for the management and administration of the Scheme. According to Robert Palacios and others, 2006 Publication, they say- “The rationale for setting up retirement benefits arrangements are similar to both the government and private sector employers. Government sets out schemes to secure the independence of public servants, make career in public service attractive against the backdrop that the private sector pay higher remuneration, shift the cost of remunerating public servants into the future and retiring older civil servants in a politically and socially acceptable way.” The Future of Corporate Pensions, 2010 Publication says that- “Similarly, the intention of sponsors of occupational private sector schemes even to the current times is to attract and retain talent and skilled workers.” In a survey conducted in the United Kingdom (UK) where 201 executives were interviewed, it showed that by establishing retirement benefits plans, it made them to remain competitive with the other companies in the same sector. A generous well done pension scheme is a source of differentiation and a tool for recruitment and retention. Companies recognise that they have a duty to provide for their employees in retirement. Mr. Deputy Speaker, Sir, before I delve into the contents of this Bill, allow me to give a brief background so that Members can understand where we have come from. I also bring to the attention of Members that the Report of the Committee is available. This The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}