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{
    "id": 810658,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/810658/?format=api",
    "text_counter": 206,
    "type": "speech",
    "speaker_name": "Garissa Township, JP",
    "speaker_title": "Hon. Aden Duale",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "The custodian, the administrator, and the fund manager have distinct roles and functions. Section 26 has issues that this House must address itself to. It is about contribution to the Fund. This is where we need the input of our colleagues who have a background in trade unions and pension funds. The section sets the employees contribution at not less than 7.5 per cent of the employee’s pensionable emoluments, that is, the basic salary excluding housing, transport and any other allowances of fluctuating emoluments. So, 7.5 per cent of that will be the contribution. The same section allows the employer’s contribution to be set at 15 per cent of what is pensionable for the employee’s emolument, of course, plus the necessary amounts to cover the premiums for the insured benefits. Let me go to Part V of the Bill which should be the third-last part of the Bill. It deals with financial provisions. It specifies the source of the monies for the Fund that is supposed to be established under Section 8 of the Bill. This includes the contribution…"
}