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 difference between PPF and other social security funds is: • Contributions rates are flexible • Shorter qualifying period for old age benefits i.e. 120 months as compared to 180 for other funds. • Unique benefits i.e. Education benefit. • How are member’s contributions deducted and remitted to the Fund? Each member is
Related Questions
- Being a Parastatal Pensions Fund does it mean that PPF provides social security coverage to members who are only from parastatal organizations?
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