BPOPF warms up to emergency pension fund withdrawals
Friday, March 11, 2022 | 6620 Views |
At present, pension fund members can only receive their benefits when they reach retirement age and begin drawing the monthly payouts. However, with the squeeze on disposable incomes, including loss of properties and mounting medical bills, legislators have been pressing for the upcoming changes in the retirement act to allow terms under which members could tap into their retirement savings for emergencies.
The Finance and Economic Development ministry is finalising amendments to the Retirement Funds Act to allow pension fund members who have not yet started earning a monthly annuity to get loans from their funds under specific conditions or to use part of the accrued pension as security.
March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...