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{
    "id": 810722,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/810722/?format=api",
    "text_counter": 270,
    "type": "speech",
    "speaker_name": "Kiminini, FORD-K",
    "speaker_title": "Hon. Chrisantus Wakhungu",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "I want to support this Bill because one of the biggest problems in this country is the people who have retired. When it comes to retirement, there are critical issues about human capital which is the present value of your future earnings or wages. As you approach your retirement, the human capital approaches zero. The Bill proposes that an employee’s contribution will be a minimum of 7.5 per cent and the sponsor to give 15 per cent. I want to salute the 7.5 per cent contribution because it was 12 per cent initially and then it went down to 7.5 per cent. This is to give room to a worker, so that he or she can meet his or her daily obligations. If a situation arises where you have more income from your financial investments, then you can save more. I want to salute the sponsor’s contribution which is 15 per cent. This is double of what an employee is contributing. If you pick the 7.5 per cent and 15 per cent and put them together, it comes to 22.5 per cent."
}