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PPF Pension Fund public relations manager Lulu Mengele (R) briefs
journalists in Dar es Salaam yesterday on achievements the Fund has made
since it was set up just under 35 years ago.
The
Parastatal Pension Fund (PPF) has extended its ‘Education Benefit’
clause to now include ‘A’ level students of its members who pass away
while in service but the fund has made clear that details into the
expansion will be made public come October of this year, PPF’s 35th
anniversary.
Only in April this year, the fund celebrated 10 years since the introduction of the ‘Education Benefit scheme’ which until now covered only nursery and primary school children and secondary (‘O’ level) school students.
Ten years ago the benefit was launched with only three children and now covers well over 1000 children attending some 765 schools in both Tanzania mainland and Zanzibar, out of which 315 are primary schools and 450 are secondary schools both private and government owned.
Last year alone, the Fund reported having spent a total of 682m/- to cover school fees of more than 1,330 children whose parents passed away and had given the fund at least 3 years worth of contributions.
Thanks to a rewarding system by PPF, it is funded children are reportedly performing well above average and even with the nation wide mass failure last year, the ‘fund’s children’ apparently did exceptionally well.
The well performing fund proudly announces that, 3.7bn/- is paid to 25, 607 pensioners on a monthly basis and that the benefits are paid without any sell of assets or borrowing of money from other financial institution.
Lulu Mengele, the Public Relations and Marketing announced that from July 1st to July 5th this year, her security fund would have a ‘Customer Service Week’ where the general public is invited to have their questions answered by PPF directors who will avail themselves at PPF offices in Ilala, Temeke and Kinondoni.
PPF was established by the PPF Pensions Fund Act [Cap 372 R.E. 2002], with the objective of providing pension and other related benefits such as disability, survivor, withdrawal, education, gratuity, death and old age to all employees in the Parastatal and private sectors of the economy.
The fund was started in 1978 as part of the National Insurance Corporation with an initial capital of 50mn/- that value is now up to 1.3trn/-.
Only in April this year, the fund celebrated 10 years since the introduction of the ‘Education Benefit scheme’ which until now covered only nursery and primary school children and secondary (‘O’ level) school students.
Ten years ago the benefit was launched with only three children and now covers well over 1000 children attending some 765 schools in both Tanzania mainland and Zanzibar, out of which 315 are primary schools and 450 are secondary schools both private and government owned.
Last year alone, the Fund reported having spent a total of 682m/- to cover school fees of more than 1,330 children whose parents passed away and had given the fund at least 3 years worth of contributions.
Thanks to a rewarding system by PPF, it is funded children are reportedly performing well above average and even with the nation wide mass failure last year, the ‘fund’s children’ apparently did exceptionally well.
The well performing fund proudly announces that, 3.7bn/- is paid to 25, 607 pensioners on a monthly basis and that the benefits are paid without any sell of assets or borrowing of money from other financial institution.
Lulu Mengele, the Public Relations and Marketing announced that from July 1st to July 5th this year, her security fund would have a ‘Customer Service Week’ where the general public is invited to have their questions answered by PPF directors who will avail themselves at PPF offices in Ilala, Temeke and Kinondoni.
PPF was established by the PPF Pensions Fund Act [Cap 372 R.E. 2002], with the objective of providing pension and other related benefits such as disability, survivor, withdrawal, education, gratuity, death and old age to all employees in the Parastatal and private sectors of the economy.
The fund was started in 1978 as part of the National Insurance Corporation with an initial capital of 50mn/- that value is now up to 1.3trn/-.
SOURCE:
THE GUARDIAN
