Africa-Press – Namibia.
Former youthful parliamentarians have called on the Namibia Financial Institutions Supervisory Authority (Namfisa) to expedite the approval of amendments to the rules governing the Members of Parliament (MPs) and Other Office-Bearers Pension Fund.
In March, the Ministry of Finance and Public Enterprises and MPs adopted a series of resolutions aimed at reforming the pension system for lawmakers and other office-bearers to ensure equitable treatment across the board.
During a meeting held in the National Assembly chambers, then finance minister Iipumbu Shiimi, together with MPs, adopted key resolutions, which include the elimination of age-based differentiation.
It was resolved that all rules creating a distinction between members who have reached the age of 55 and those who have not must be removed.
“Pension benefits should apply uniformly to all MPs, regardless of their age at retirement,” the meeting resolution fund reads.
Other proposals include aguaranteed pension benefit for all retiring members.
It advocates for all MPs retiring at the end of their term to receive a guaranteed pension benefit. This provides financial security for all who have served in public office irrespective of their age or years of service.
The meeting resolved that existing rules regarding pension benefits due to ill health are to be revised to ensure fair and sufficient support for affected members.
It was further agreed that the percentage of pension benefits paid out under varying circumstances should be reviewed to ensure they fairly reflect members’ contributions during their time in office.
At the said meeting, Shiimi promised to initiate the necessary legislative and administrative steps to effect these changes.
However, three months later, these resolutions intended to take effect in April have yet to be implemented.
Action
“The 7th Parliament did its job by amending the rules. Namfisa must now speed up the approval process,” said Maximalliant Katjimune, a former MP under the Popular Democratic Movement ticket.
He stressed the importance of the reforms.
He noted that under previous rules, MPs over 55 were guaranteed a monthly pension for life.
However, those under 55 were excluded from the same benefit.
“Under the new rules, every former MP, regardless of age, qualifies for a lifetime monthly pension. Politics is a risky career. MPs need a certain level of security once they leave Parliament,” he said.
Fellow PDM ex-lawmaker Hidipo Hamata called on Namfisa to act with lightning speed. “Regulatory delays will only prolong the hardship already experienced by those affected. Namfisa has a duty to protect the interests of fund members and ensure the approved reforms are implemented without unnecessary red tape,” he stated.
Hamata added that the current framework exposes younger MPs to financial distress after leaving office. “Older colleagues may transition into retirement and receive full pension benefits, but many younger MPs must rebuild their careers from scratch, often in a harsh economic climate. The stigma of political association can make reintegration into the workforce difficult, with many facing unemployment or underemployment,” he said.
He noted that in the current cost-of-living crisis, marked by high inflation, youth unemployment and rising household expenses, this financial gap places undue pressure on former MPs and their families.
“If we truly wish to inspire young people to serve in Parliament, they must be assured that their contribution is valued during and after their term. Delaying these reforms sends the opposite message. Fast-tracking them reaffirms our national commitment to fairness, justice and the value of public service in line with the Constitution’s principles of equality,” he said.
Reached for a comment, Namfisa spokesperson Victoria Mutango Raimond said the matter is being handled by the Parliament and other Office-bearers Pension Fund.
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