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Pension withdrawal debate: NBFIRA focuses on old-age poverty

Wednesday, March 22, 2023 | 1600 Views |

Decisions due: The Finance Ministry will have the final say on whether pension fund withdrawals are extended for more categories of members

As the Finance Ministry finalises a study into possibly widening the categories of pension fund members who can prematurely withdraw from their savings, the key questions in the debate are: what is the purpose of a pension fund and when should it help the member? Staff Writer, MBONGENI MGUNI reports

For the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), the question of what a pension fund and what it does, is crystal clear.

“A pension fund provides for financial stability after you stop working, by providing a stream of income and helping you have the standard of living you had before you stopped working,” explains Phineas Sesinyi, acting Retirement Funds director at NBFIRA.

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Pension withdrawal debate: NBFIRA focuses on old-age poverty

As the Finance Ministry finalises a study into possibly widening the categories of pension fund members who can prematurely withdraw from their savings, the key questions in the debate are: what is the purpose of a pension fund and when should it help the member? Staff Writer, MBONGENI MGUNI reports

Search continues for Maun boy feared to have been taken by a crocodile

Inimba Gets the Nod for Season 2 on Mzansi Magic

Peace conference addresses growing list of social ills

GAYO Botswana and BA ISAGO University Forge Major Partnership to Advance Climate Education and Youth Leadership

Pastor accused of defiling Teen during counselling session

FIFA World Cup draw – The countdown begins!

DIS Director's daughter rape case stalls

Main Mall’s resilience, sturdiness in the face of stiff competition

Depression is real; let's take care of our mental health