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{
    "id": 810664,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/810664/?format=api",
    "text_counter": 212,
    "type": "speech",
    "speaker_name": "Garissa Township, JP",
    "speaker_title": "Hon. Aden Duale",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": " Hon. Deputy Speaker, there are so many ethnic groups in this House. We are told we have left Gujarati and we are now in Suba, a very serious community to which a very serious Member, Hon. Millie Odhiambo, belongs. I served with her in the 10th Parliament. We support her community. Part V deals with the source of monies for this Fund that is being established under Section 8 of the Bill. This mainly is the contribution from employees and employers. The income that would come from the investment that the pension firm would be involved would be monies from grants, gifts, donations, or any other endowment given to the scheme and, of course, the fees and charges authorised by the board as well as the monies due to the Fund from any other source. The source of the money is well documented under the financial provisions of Part V. Section 40 of that Part V provides for the establishment of what we call revenue account by the board which maybe paid special contribution from employee of Government for the purpose of improving members’ benefits and any income of the scheme which the board sets aside to stabilise the returns to members subject to a maximum of not more than 10 per cent of such income. Part VI of the Bill talks about general provisions. If you have the Bill you can look at it. The general provisions include protection of the board from liability, offences and penalties relating to non-compliance of the Act, as well as the powers of the Cabinet Secretary responsible for National Treasury to make regulations for better carrying of the provisions in this Bill. That talks about two functions. One of them is to allow the Cabinet Secretary in the National The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}