21 Nov 2018 in National Assembly:
With those remarks, I support the Report and commend the Committee for the good work they have done.
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14 Nov 2018 in National Assembly:
Thank you, Hon. Temporary Deputy Speaker. I stand to support the Bill. I commend Hon. Muriuki Njajagua for sponsoring the Bill. We used to have the local provident fund. We know that a number of retired councillors to date, have not been paid their retirement benefits. Now, we are amalgamating through this Bill for the seven counties and their subsidiaries. That is going to be a lot of money. If invested well in projects that can complement and sustain the staff of these entities in terms of their retirement, we will have done a good service to the populace. While ...
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14 Nov 2018 in National Assembly:
What is also important is for the fund to look at creative ways to invest. When I say creative ways, we know that we have a lot of county employees who are going to live in the cities. If, for instance, the Fund puts up very good low cost housing and allocates them to their members as an option, they will be able to enjoy rent at real time.
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14 Nov 2018 in National Assembly:
We also have a problem with retirement homes in this country. So, I am hoping that when this Bill becomes law and funds start being remitted, they will be looking at creative ways to 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.
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14 Nov 2018 in National Assembly:
invest the funds. You would rather receive a home that you know will give you real time rent than receive a cheque of Kshs50,000 in the year 2030. So, they have to be creative in how they invest the funds. The Fund has to take advantage of the digital platform. If you do so, people will know at real time how the Fund is doing. If you are going to have a retirement benefit and you only get to know at a later stage that the Fund has been mismanaged or the funds have not been remitted by the various ...
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14 Nov 2018 in National Assembly:
I also feel that the Government should enable people feel that it is proper to make an investment in terms of pension. The Government has to sit down and address what happened with the local provident fund. All the members who are today languishing in poverty made contributions, but the municipal councils did not remit this money. The money was not invested. To make people have confidence that we are managing pension funds with truth and transparency and the Government is taking responsibility, there is need to address what went wrong and find a way to have reparation on the ...
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14 Nov 2018 in National Assembly:
I support the Bill. I believe that having a Bill is one thing and having people to manage the fund so that it is invested well so as to ensure that people retire with dignity, is another. With that, I support the Bill. Thank you.
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18 Oct 2018 in National Assembly:
Thank you, Hon. Temporary Deputy Speaker. I state that I am a Member of the Special Funds Committee and I am very honoured thus.
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18 Oct 2018 in National Assembly:
This Committee has worked very hard under the chairmanship of Hon. Kathuri Murungi. I am very glad that we have quite a number of Members even the ones who are not from Nairobi complementing us on the hard work that we have put towards ensuring that we get ahead in terms of the audit of the Special Funds Committee, which happens to be a new one. 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.
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18 Oct 2018 in National Assembly:
I believe this Committee was long overdue. We have carried out audits for Nairobi’s 17 constituencies for the financial years from 2013 to 2016. That was no mean task. It was very exhausting. The Chairman pushed us tremendously. We were very tough on the auditors, the fund managers and EACC. The anti-corruption body, Board of the NG-CDF and the fund managers ought to take this Report and act on it.
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