MCP says amendments in Pensions Bill ‘do not make sense’

Malawi Congress Party (MCP) spokesperson on finance Joseph Njobvuyalema on Wednesday quashed the amendments in the  Pension Bill, saying they did not make sense when there had been bigger complaints from workers on the Pensions Act.

Minister of Finance, Economic Planning and Development Goodall Gondwe tabled the bill, seeking an amendment to Section 2 of the Pensions Act because government was not able to join the fund due to funding problems.

Njobvuyalema: Quashes the amendment

Njobvuyalema: Quashes the amendment

But Njobvuyalema trashed the amendment of investing the fund outside Malawi and the replacement of Pension Fund Adminstration in Section 7, saying the Act should have just empowered the Adminstrator General to carry out pension activities.

But People’s Party (PP) spokesperson on legal matters Ralph Mhone said his party was in support of the bill as it aimed to iron out technicalities, which had cropped up since the law came into effect.

Gondwe asked Parliament to amend the Act to allow investment of pension assets outside the country.

He said ihe amendment will also soften conditions for pension contributors to access contributions if they remain unemployed for six months.

Said Gondwe: “It would not make economic sense to deny a person when the amount was small”

After deliberations, Parliament passed the Pensions (amendment) Bill to allow the public service to be exempted from joining the National Pension Fund for an additional two years following the expiry of the exemption in June 2013.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From Nyasatimes

More From the World

13 thoughts on “MCP says amendments in Pensions Bill ‘do not make sense’”

  1. chilungamo says:

    Something has to be done at the pension department at Accountant General. I retired in May but I don’t know when I will access my gratuity. People are languishing. Just visit Room 35 and witness for yourself.

  2. michael st luke says:

    this is terrible people.what are we up to?Dr Chakwera was and is and will be the best for Malawi.

  3. I wonder if at pensions are meant to uplift the well being of the retirees?My father was mandatorily told to retire in 2012 after serving for 37yrs in the police service at officer cadet level only to get 1.5millio kwacha.Most corps did not know how much their pensions are worth only to discouver millions printed on their forms as loans which they never accessed.Pensions department,Auditor general,ACB,FIU,Baker Tilly,Finance Mininster and all concerned authorities of good will this is another dimension of cashgate.If you dont intervene,help will come from somewhere but you will be doomed to live in shame.LORD HAVE MERCY!!!

  4. dennis jovi says:

    mcp ndi ya sankho kuyambira kale,chasikayo ali ndi chiwanda sangasiye ntchito ya God.

  5. Anachisale says:

    Kaya ine badwel gondwe yo anandibera pension kupanda amai bwenzi ndili ndi chani kodi wachira? ameneyitu akufuna kulozedwa eti?

  6. vilinde says:

    Reduce retirement to 40years of age and 20years of services so that others can fine job

  7. raings says:

    Could those who have read the bill reproduce it so that we advise our MP what to do.Why don’t the MPs forget the wishes of civil servant on renumeration.

  8. raings says:

    A gudow angolowa kumene m’boma why brining ideas that may confuse pensions of poor Malawians. Things that involve civil servants should first be published/ gazetted for the concerned to give their views (that is) advantages and the opposites.Chonde a finance minister musasokonezenso

  9. Quota system says:

    And don’t allow Bad well Gondwe to re introduce those unpopular formulae which made people cry all the way home with pea nuts. Matchonawa saganizira anthu ngakhale pangono.

  10. dopababi shopa says:

    Most of youth i mean graduates are unemployed in this country. Plz MPs reduce mandatory retirement age from 60 to 55 to accommodate fresh blood in civil service.

  11. yuona says:

    Amene akutipangira bill imeneyiwa zawo amatapira ikangotha contract yao, therefore alibe nafe ntchito!

  12. Mwananjovu says:

    Six months is just too much time. Make it 3 months. When the amount is small. what do you mean by small, is it less than a million. What is the bench mark?

    1. ns says:

      They say MK500,000.00 min.

Comments are closed.