Pension withdrawal debate: NBFIRA focuses on old-age poverty

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

Editor's Comment
Happy Independence Day!

Independence Day holds immense significance for Batswana as a whole. It offers a moment for reflection and celebration of the country's achievements, while also prompting introspection.We must honestly assess whether the number of years of independence aligns with the progress we have made. While there is certainly much to celebrate, there are also pressing issues that require the attention of relevant stakeholders. Many Batswana are facing...

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