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{
    "id": 803024,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/803024/?format=api",
    "text_counter": 196,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "package at all. It is some sort of strength when we have such law to help run counties. Of course, a good retirement package also attracts qualified people. Mr. Deputy Speaker, Sir, this Bill also seeks to harmonise different laws. We had the transitional laws when we transitioned from the local governments to now the county governments, the LAPFUND and the LAPTRUST. This law comes to try and harmonise all those into a good scheme. This way, we will not have conflicts with one law saying one thing and another saying a different thing. In fact, the proposed scheme will transition the former local authorities and national Government employees under a national retirement scheme and retirement arrangement into one universal scheme. Of course, that is much better than us running from one scheme to another and also having conflict within schemes. It is like a one stop shop for retirement issues in the counties. This should help us run counties smoothly. The other issue is the kind of management of the fund that is provided for in this Bill. I feel that it has more checks and balances for purposes of proper management. We know the kind of scandals that we have had with already existing retirement schemes. We have heard of the bad investments that some have engaged in that have resulted in all manner of issues. Section 48 of the Bill states- “A person who- (a) willfully fails to remit contributions to the scheme as required; (b) knowingly gives false information to the scheme or being a trustee or (c) Being a Trustee or employee of the scheme, willfully misappropriates the assets of the scheme, commits an offence and is liable on conviction to a fine not exceeding five million shillings or to imprisonment to a term not exceeding two years or both.”"
}