South Sudan's English Daily Newspaper
"We Dare where others fear"
By Awan Achiek
The National Constitutional Amendment Committee (NCAC) on Thursday submitted the Pension Fund Act, 2012 (amendment) bill, 2024 to the Ministry of Justice and Constitutional Affairs.
Gichira Kibara, Chairperson for the NCAC said that the bill has been strengthened to provide clear record of funds contributed to pensions by employees and the government.
“We have strengthened the law to make sure that there is a clear record of who is contributing and how much are they contributing and they can be able to access those funds as soon as they retire, and that those funds are kept properly and where they are invested they can produce enough income or enough money when you are retired,” Kibara told journalists during the handover ceremony in Juba.
He said that the amended bill will strengthen the reporting mechanism to protect the funds to guarantee employees their income when they are retired.
“We have strengthened the board of trustees that will be in charge of pension and we have also strengthened the reporting mechanism both the reporting to members of the pension funds as well as reporting to legislature is adequate so those funds are protected and people are a grantee of getting good income when they are retired,” Kibara said.
He disclosed that the bill has been updated to meet regional and international best practices of modern pension fund management.
For his part, Dr. Gabriel Isaac Awow, Undersecretary of the Ministry of Justice and Constitutional Affairs hailed the committee for the great work done.
“This bill is now amended to meet many categories and many areas of pension of the government employees, and this is why we appreciate the role played by the National Constitutional Amendment Committee with all the challenges,” Isaac said.
Isaac added that the bill has been amended to address the rights and interests of government employees.
“We want to inform the people of South Sudan that you have a bill for your pension in order and for sure this bill will address your rights and your interest after you retire from serving the people of South Sudan,” he said.
NCAC is mandated by the revitalized peace agreement to review the country’s fundamental laws for amendment to ensure reforms.
