VP urges employers to observe pension schemes

By Happy Lazaro

Private firms have been urged to be in the frontline in registering their employees in pension schemes, particularly the Parastatal Pension Fund, so as to give them a better and dignified future.

The Vice President of the United Republic of Tanzania, Dr. Ali Mohamed Shein, made this call while he was opening the 13th Annual General Meeting of PPF held at the Arusha International Conference Centre (AICC) last week .

"Employers have a responsibility in contributing to pension funds", he said adding that the contributions are mandatory and should be promptly remitted. He advised that PPP should take legal action for employers who delay in submitting deductions from their employees.

Dr. Shein said the pension scheme have immense contribution in social development which includes paying terminal benefits to employees after retirement.

He advised PPF to look into the possibility of continuing to invest in real estates so that its members could benefit from such projects.

The PPF Managing Director, Mr. Naftal Msemwa said last week that the Fund was in the process of constructing a tourist hotel in Arusha. Already it has in place modern residential estates.

Last modified: November 14, 2003.
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