The Social Security Regulatory Authority (SSRA) is said to be enacting a new policy that would make mandatory for any contributor to be able to withdraw the money only at a compulsory age of 60 years.
Reports have it that after enacting the new policy, it’s supposed to be tabled in the National Assembly under a certificate of emergency for approval by Members of Parliament.
Notably, even before such a move is reached, reports say security funds have already stopped issuing early retirement benefits to its members. Stakeholders, including trade unions, human rights activists as well as beneficiaries of these funds have vowed to fight back until they defeat what they refer to as the government’s ill intention towards security funds beneficiaries.
For various strongly backed reasons, not everyone can afford to wait until the compulsory retirement age of 60 years and there are some people who are better off withdrawing the moment they become eligible.
In their joint statement, the Tanzania Human Rights Defenders Coalition (THRDC) and interest groups under Trade Unions Confederation of Tanzania (TUCTA) have strongly opposed government prospects on social security funds. Reasons given for the move by stakeholders are significantly obvious and we strongly endorse them.
In a nation where unemployment rate is high, job security is extremely low and working environment remains erratic, particularly in the private sector, early or voluntary retirement and the right to withdraw social security benefits makes a lot of sense. We strongly support this resistance because we have seen workers on contract terms taking early retirement and having access to their social security benefits.
Those who could not secure new jobs use these funds as capital for other income generating activities. In other words, the government could have guts to enact such a law should it have power to keep jobs of its nationals, and safeguard working environment. Otherwise, a lot of times it’s going to make sense for one to collect what he or she owns a little bit earlier.
Besides, there are employees working in mines on contract terms or special assignments after which they retire. Others are in the manufacturing industry, in plantation with seasonal terms such as sugar industry or those in the private sector or non governmental institutions.
The other reason advanced by stakeholders and beneficiaries is that students working on particular purpose such as seeking funds to further their studies normally opt to voluntarily retire for the purpose of accessing their benefits. Now, how could you simply mute such individual’s initiatives?
We therefore appeal to the government to see the urgent need of enacting friendly laws that win general consensus for the welfare of the nation over political vibes.
What is even creating worries to stakeholders is why now? Why should this be taken to parliament on a certificate of emergency? Why is this Bill being crafted under confidentiality? Why stakeholders are being kept at bay despite the fact that they are the beneficiaries of these particular funds?
The government should try to be rational on its decision on issues that affect the public. In other words, its decision should be drawn from the people and for their own benefits instead of making what is typically known as top down approach.
Failure to represent the will of the people or their interests will have long-term consequences on social security funds, including creating unfriendly relationship among them.
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