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 :

Sharing is caring!

Follow us in Twitter
13 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
chilungamo
chilungamo
6 years ago

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.

michael st luke
michael st luke
6 years ago

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

chiefdastownhall
6 years ago

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!!!

dennis jovi
6 years ago

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

Anachisale
Anachisale
6 years ago

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

vilinde
vilinde
6 years ago

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

raings
raings
6 years ago

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.

raings
raings
6 years ago

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

Quota system
Quota system
6 years ago

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.

dopababi shopa
dopababi shopa
6 years ago

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.

shares
Read previous post:
Malawi gets K80m cancer drugs from Direct Aid Kuwait

Malawi government has received K80 million (US$194 174.8) worth of assorted cancer drugs from the Kuwait people, through a non-governmental...

Close