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{
    "id": 800432,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/800432/?format=api",
    "text_counter": 252,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "I recommend that we amend it to a quarterly basis. Every time they come for a meeting, let them have those reconciliations of funds. Clause 24(2)(d) states- “The functions of the administrator shall be to- (d) provide customer support services to members, including access to members’ account balances and statements;” I propose we indicate “on a quarterly basis.” If you leave it blank, people will never give proper information to the trustees. In the same Clause, particularly, Clause 24(2)(g), we should add, “From time to time, proper books of accounts of the funds needs to be kept”. In Clause 25(2) which states- “A sponsor shall contribute to the scheme fifteen per cent of the pensionable emoluments of every employee who is a member of the scheme and the amounts necessary to cover the premiums for Insured Benefit.” The word “at least” needs to be included so that “at most” can be better. In my view, Clause 25(4) should be deleted because all contributions by the members and the sponsor shall be reduced by amounts of contribution to the National Social Security Fund (NSSF) in respect of members. Right now, we only contribute Kshs400 to NSSF. This should be at least and then this other one can be an extra contribution. So, that Clause needs to be deleted. In Clause 25(6) which states- “Contribution required to be made under subsection (1) and (3) shall be deducted by a sponsor from the salary of the contributor on each occasion on which the salary is paid and shall be paid into the scheme together with the sponsor’s contribution before the tenth day of every calendar month or before any other day which may be notified in writing and approved by the Authority.” I propose that the word “occasion” be replaced by “month”."
}