Africa-Press – Eswatini. Prime Minister Russell Mmiso Dlamini has weighed in on the matter regarding the conversion of Eswatini National Provident Fund (ENPF) to a pension fund.
Dlamini made this proposal to International Social Security Association (ISSA) Secretary General Marcelo Abi Ramia Caetano. This was during the meeting between the premier and Caetano, which took place on Wednesday at the Private and Cabinet Offices at Hospital Hill, Mbabane.
Caetano had been in the country to be part of an ISSA seminar on fraud prevention, strengthening compliance and improving contribution collection. “Among our discussions was the proposed conversion of the Eswatini National Provident Fund (ENPF) into a pension fund,” Dlamini said.
The issue of the conversion of ENPF to a pension fund has been going on for many years now. A Bill to implement the conversion was once tabled in Parliament (during the 10th Parliament of 2013 to 2018). However, the Bill was later withdrawn to sort own some technical issues regarding the legislation.
The Bill was tabled by the then Minister for Public Service Owen Nxumalo. He did this on behalf of the then Minister for Labour and Social Security the late Winnie Magagula. Labour unions, especially those from the private sector have been calling for the conversion to happen speedily, arguing that the pension fund would give them the desired social security upon retirement because they could be able to receive monthly annuities, as opposed to the once off payments they received upon retirement.
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