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{
    "id": 800395,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/800395/?format=api",
    "text_counter": 215,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "Benefits Act has primacy in terms of the hierarchy of laws when it comes to dealing with pension issues. So, there is no need for duplication and repetition. Madam Temporary Speaker, additionally, the Board shall collect contributions and income payable to the Fund under this Act; pay out various benefits to persons entitled to the benefits as provided under the Act and protect the Fund’s assets. As it is now, the schemes and funds that exist have in excess of Kshs50 billion in terms of assets. These are assets of Kenyans which must be protected. Many former county workers have not accessed their retirement benefits and most counties are not remitting retirement benefits to these schemes. Once we pass this law, we will come back to this House to ask for certain arrangements in the next financial year. Certain arrangements must be made to recover this money from the allocations to these counties. Some counties – I am very embarrassed that my county tops the list. The county owes different schemes like the Local Authorities Providend Fund (Lapfund) and Laptrust close to Kshs20 billion. That is from the month on month nonpayment. Of course, this happened from the days of the county councils to the days of devolution under the first governors up to date. I am aware current county governments are trying to sort it out. However, we can protect these Kenyans. When we are discussing the Division of Revenue Bill and the County Allocation of Revenue Bill, in order to deal with the backlog, we can create a direct conditional provision that says that a certain portion of the money we allocate to a county should go directly to these pension schemes. Many people are dying before they receive their benefits and many of them are suffering. As I proceed, I would just like to have a confirmation of how much time I have from the Clerks-at-the-table since it is a big Bill. The Board has power in Clause 15 to supervise the assets of the Scheme in such a manner as best promotes the purpose for which the Scheme was established. Of course, this must be monitored by the Senate. Some schemes are best known to invest in areas that are not of benefit to the pensioners. The Board will also appoint a custodian, fund manager and administrator. They will carry out the functions as specified in the Retirements Benefits and determine the provisions to be made for administrative expenses as provided for under Clause 40 and for reserves of the Fund as provided for under Clause 39. Madam Temporary Speaker, there are also provisions from Clause 22 to Clause 27 on the Administration of the Scheme. This part also provides for appointments of a Fund manager and custodian, their functions, the CEO and the vesting of benefits."
}