Parliament passes Retirement Funds Bill
Tuesday, August 05, 2014
The retirement funds to be regulated by the new law include annuities, preservation funds, beneficiary funds, and external funds, among others. The Bill also regulates administrators and boards of retirement funds.
When presenting the Bill, Minister of Finance and Development Planning Kenneth Matambo said several reforms have been initiated by government to streamline the regulation of the sector, which include the establishment of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). He explained that NBFIRA has over reaching regulatory responsibilities for several financial services including insurance, retirement funds, collective investment undertakings, securities and other related activities.
The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...