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{
    "id": 810677,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/810677/?format=api",
    "text_counter": 225,
    "type": "speech",
    "speaker_name": "Kipkelion East, JP",
    "speaker_title": "Hon. Joseph Limo",
    "speaker": {
        "id": 1915,
        "legal_name": "Joseph Kirui Limo",
        "slug": "joseph-kirui-limo"
    },
    "content": "So, we will be proposing an amendment. To stop county governments from running down the pension funds in future, this Bill under clauses 48, 49 and 50 is proposing very stiff penalties. In fact, it is proposing a penalty which in the opinion of our Finance Committee, is low. We are proposing stiff penalties so that we force the county governments who will then be the owners of this particular Bill to ensure they remit contributions by their employees. If they fail, there will be serious penalties which will be meted upon them. There is another proposal to reduce contribution by employees. An employer under the current pension scheme contributes 15 per cent. In the current one they will continue contributing 15 per cent. The bad side of it is that the current Bill is proposing a reduction of employees’ contribution which is currently at 12 per cent to 7.5 per cent. The impact of that is that at the end when the employee retires, they will have very little to take home because of that reduction."
}