Ledama Olekina

All parliamentary appearances

Entries 3601 to 3610 of 4076.

• 5 Dec 2018 in Senate: should come up with an amendment that sets up a time limit on when someone should receive their payment. I should not come and follow up my retirement dues. view
• 5 Dec 2018 in Senate: This is one of the provisions which I will be recommending; that we bring in some amendments so that everyone, regardless of age, can join this pension fund. I am happy that this Bill is trying to bring in some order. There are a few provisions which are provided for in the Public Finance Management (PFM) Act, if you look at Section 157(2) which says- “(2) A receiver of county government revenue is responsible to the County Executive Committee member for Finance for ensuring that the revenue for which the receiver is responsible, is collected or recovered, and is accounted ... view
• 5 Dec 2018 in Senate: I would like to borrow something from the PFM Act, which we can put here based on the Fund manager. I heard my sister, Sen. Farhiya talking a lot about the Fund manager. I wanted to clarify that a Fund manager is someone like Britam, who invests the money on behalf of the Scheme – which I support. When I was in the United States of America (USA), I used to contribute under the 41K. I used to get monthly statements showing how much I had contributed and how much I had earned in returns from the Fund manager. view
• 5 Dec 2018 in Senate: What this Bill does not provide for – which is something that concerns me – is where and when the profits are being redistributed. The Bill is silent on the issues of losses. Suppose whatever has been invested out there, the Fund managers in that particular year did not make any money and you are supposed to pay these fund managers from the profits of the investments, how are you going to be able to pay them from the losses of the investment? view
• 5 Dec 2018 in Senate: Madam Temporary Speaker, that is one of the things that we have to be very careful, so that the money that our county government staff are contributing, which is being proposed is 7.5 per cent--- In fact, what I would even suggest is that the 7.5 per cent should be an option, because some people would want to contribute more. For example, when I came to Bunge there were so many companies coming here telling me to join their Sacco and contribute a certain amount of money. view
• 5 Dec 2018 in Senate: I am sure that there are so many Members of Parliament here who are contributing to three or four Saccos because by the time they retire, they can go to them and try to claim their money. The provision that proposes to reduce the contribution from 12 to 7.5 per cent, that should actually be left open. It should be an option where, as an employee of the county government you are given an option; you are asked whether you willing to contribute 12 per cent or 7.5 per cent. There should be some form of flexibility in the employees‟ ... view
• 5 Dec 2018 in Senate: Madam Temporary Speaker, I am happy with what the employer will contribute; 15 per cent is very good. However, on that note, I am happy that this Bill introduces punitive measures for counties that fail to contribute. In fact, my proposal would be that, just like in the PFM Act, where a fund receiver on behalf of the county government provides quarterly reports to the National Treasury and to the Commission on Revenue Allocation (CRA), we should find a way of ensuring that anyone or any county The electronic version of the Senate Hansard Report is for information purposesonly. A ... view
• 5 Dec 2018 in Senate: government that deducts money for the pension and their contribution, must on a quarterly basis submit their returns of the deductions to the Controller of Budget. That should also be pegged on the equitable share of revenue; such that before the Controller of Budget approves money to be sent to the county government, the first thing that they have to check is whether that county government behaved. They will also check whether the county government remitted their entire deductions. This is because you have no business deducting money from me, keeping it and not forwarding it to the fund. Therefore, ... view
• 5 Dec 2018 in Senate: from these county governments. Therefore, that is one of the most important things that I noted in the provisions of the transitional clause. Madam Temporary Speaker, my last point on this Bill has got to do with Clause 43 of the Bill, which states- “The annual investment income earned by the Scheme shall, after deduction of all expenses and costs properly paid out of the Scheme and any appropriation to a reserve account approved by the Board, be credited to members' accounts on a pro-rata basis.” I want to reiterate the point I made that it is important that we ... view
• 5 Dec 2018 in Senate: On a point of information, Madam Temporary Speaker. view