Unremitted pension funds fueling industrial strikes, says labour official
A government labour officer has said industrial strikes are on the rise because employees are not happy that empoyers do not remit to pension fund managers deducted money.
Blantyre District Labour Officer Frank Adini said his office is receiving numerous complaints on the matter.
“This is fueling the current spate of industrial strikes,” he said.
Workers at Fattani Offset Printers this week went on strike to force management remit deducted pension contributions to pension fund managers.
Failure to remit the money to fund managers means employees cannot access their pensions once they leave their job.
“Actually my office is overwhelmed with these complaints, every week we have numerous of them here in Blantyre,” he said. It is mandatory for employees to be on pension scheme in Malawi.
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HOW DO RESERVE BANK AS A REGULATORY BODY FOR PENSIONS ALLOW COMPANIES TO HOLD PENSION DEDUCTIONS??????????????
Failure to do so is corporate fraud and these companies should be hauled before the courts. Furthermore, the country should name and shame these organisations…i beg this is a huge iceberg, bigger than cashgate. And it is empoverishing millions of hard working citizens!
It is not bigger than cashgate boss. Pokhapo mwaonjeza. But it is a problem, and unfair on the employees.