NBFIRA consults on allowing pension fund withdrawals

This move comes at a time when the Ministry of Finance and Economic Development is finalising amendments to the Retirement Funds Act that could 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.

Finance minister, Peggy Serame recently told parliamentarians that a draft of the amendments had been sent back to the Attorney General’s office and would be brought back to the National Assembly soon.