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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

Gov't moves to close tax gaps

Chief judge promises fairness at tomorrow's Miss Botswana finale

High pressure mounts on fuel prices

We respect AFCON final decision – Babitseng

Court blow rocks BPF leadership

BPF moves to rebuild unity-Lucas

‘Reatile, Ookeditse deal was gentleman’s agreement’

Branch fires early warning shot as Portugal fuels title push

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