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{
    "id": 834717,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/834717/?format=api",
    "text_counter": 458,
    "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": " Hon. Chairman, I beg to move: THAT, the Bill be amended in Clause 56 by – (a) deleting subsection (2) and substituting therefor the following new paragraphs – (2) The Local Authorities Provident Fund, the Local Authorities Pension Trust, the Local Authorities Pension Trust (Defined Benefits) Scheme and the Local Authorities Pension Trust (Umbrella) Retirement Fund shall, on the commencement date remain closed Funds to new entrants and shall ensure the preservation of all accrued rights of members. (3) Subject to subsection (2), the closed funds shall continue paying any pensions and benefits as and when they fall due for a maximum period of five years from the commencement date. (4) The provisions of section 54A shall apply to any pension and benefits which shall not have been paid out of the closed Funds at the end of the fifth year from the date of commencement date. (b) renumbering the existing subsection (3) to subsection (5). (c) inserting the following new sub clause immediately after sub clause (5) — (6) The State Corporations Advisory Committee shall, within five years from the commencement of this Act, ensure the implementation of this section. Currently, we have pension funds being managed differently. They cover employees in the county assembly and the county governments. At the commencement of this Bill, we suggest that those funds continue running during the transition period but to a maximum of five years. During that period, they shall be paying the people who will be exiting but they will not be 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."
}