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Pension cash-out stirs Parly debate

At the helm: Serame presented the Bill’s second reading this week PIC: THALEFANG CHARLES
At the helm: Serame presented the Bill’s second reading this week PIC: THALEFANG CHARLES

Members of Parliament have urged the Finance ministry to extend the encashment of pension benefits to active members or allow the accrued amounts to be used as security, BusinessWeek has learnt.

The Finance ministry this week tabled legislative changes that will allow deferred pensioners to cash in their benefits to pay for loan and mortgage defaults as well as medical bills associated with terminal illnesses.

The changes to the Retirement Funds Act are being debated in Parliament.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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