What are the major functions of PPF?
The major functions of PPF are: • Registering members • Collecting and administering contributions • Investing the contributions and – Paying/offering benefits when due. • Being a Parastatal Pensions Fund does it mean that PPF provides social security coverage to members who are only from parastatal organizations? No.The Fund covers employees from all sectors of the economy (parastatal, private firms, self employed, informal) and those on contracts. Initially it covered employees of parastatal organizations and those in private companies were registered but with the consent of the Minister for Finance. However, the legal provision requiring the Minister’s consent was removed giving the Fund mandate to widen up coverage to all employees including those on contracts following amendment of its Act (Parastatal Pensions (Amendment) Act, No. 25 of 2001) passed by the National Assembly in the year 2001. • What is the difference between PPF and other social security funds in Tanzania? The diff
