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{
    "id": 803020,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/803020/?format=api",
    "text_counter": 192,
    "type": "speech",
    "speaker_name": "Sen. Were",
    "speaker_title": "",
    "speaker": {
        "id": 13183,
        "legal_name": "Petronila Were Lokorio",
        "slug": "petronila-were-lokorio"
    },
    "content": "Thank you, Mr. Deputy Speaker, Sir, for the opportunity to contribute to this Bill. I am a Member of the Standing Committee on Labour and Social Welfare that is responsible for this Bill. There has been a lot of confusion and disharmony in the operationalisation of the Local Authorities Provident Fund (LAPFUND) and the Local Authorities Pensions Trust (LAPTRUST). This Bill is an answer to the problems that are in those two arrangements. If you look at Clause 7 in Part III on the Board of Trustees and the County Governments’ Retirement Scheme Fund, the composition of that board has a representation of all the concerned stakeholders. So, this Bill is an inclusive piece of legislation that will help us deal with county government employees’ retirement issues. The Bill has a number of checks and balances. It has a board of trustee, a CEO and a Fund manager who will be dealing with the investments that will be established by this scheme. It also has a custodian appointed by the board and an administrator. So, all these checks and balances point to the fact that this will be a solution to the many issues that retired employees of the county governments and the former local authorities encounter from day to day. With those few remarks, I support the Bill."
}