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UNDERSTANDING SOCIAL SECURITY
Q. WHAT IS SOCIAL SECURITY?
A. According to ILO definition Social Security
is the protection measures which society provides
for its members, through a series of public measures
against economic and social distress that would
otherwise be caused by the stoppages or substantial
reduction of earnings resulting from sickness,
maternity, employment injury, unemployment, disability,
old age, death, the provision of medical care
subsidies for families with children.
The income protection benefit provided under
a social security programme is financial in nature.
WHAT IS PUBLIC SERVICE PENSIONS
SCHEME
Q. WHAT IS THE PUBLIC SERVICE
PENSIONS SCHEME?
A. It is a contributory pension scheme under
which members contribute monthly and receive benefits
as and when they qualify.
Q. HOW IS THE SCHEME FINANCED?
A. The Scheme is financed by the contributions
from employer, employee and the investment income
on the assets held by the Fund.
Q. WHAT ARE THE CONTRIBUTION
RATES?
A. Every employee is liable to pay 5% of his
salary as monthly contribution while every employer
is liable to pay 15% of the employee's salary
as monthly contribution in respect of that employee.
Q. WHEN SHOULD CONTRIBUTIONS
BE PAID?
A. Contributions of employees should be paid
within one month after the end of each month in
which the last day of contribution period to which
it relates, falls.
A. HOW ARE THE CONTRIBUTIONS PAID TO THE FUND?
A. The contributions should be paid in cheque,
cash to PSPF Offices; telegraphic transfer and
electronic means to PSPF Banker, NMB.
Q. CAN A MEMBER WITHDRAW PART
OF HIS CONTRIBUTION?
A. No, a member cannot withdraw part of his contributions
because it is not a savings scheme.
The contributions have to be made over a period
of time and invested to enable the scheme pay
out the benefits guaranteed under the scheme.
In effect, if part of the accumulated contributions
are withdrawn, the assets of the scheme will be
reduced and it will be impossible to provide the
benefits promised.
FUNCTIONS OF PUBLIC SERVICE
PENSIONS FUND
Q. WHAT DOES PUBLIC SERVICE PENSIONS
FUND (PSPF) DO?
A. The Fund undertakes the following specific
duties:
- Register all members;
- Register all employers;
- Collect contributions of members and compile
relevant data related to the contributions;
- Manage and invest the funds;
- Maintain and update personal and financial
records on members;
- Pay benefits when they fall due.
MEMBERS OF THE FUND
Q. WHO IS A MEMBER OF THE FUND?
A. All employees of the Central Government and
Executive Agencies employed in pensionable terms
can be members of the Fund including those seconded
to other institutions.
Q. WHERE CAN I REGISTER AS A
MEMBER?
A. You can register as a member at the Public
Service Pensions Fund Offices Sukari House, which
is located at the corner of Ohio Street and Sokoine
drive, Dar es Salaam or by making arrangements
between the employer and PSPF where the registration
exercise will be carried out at employer's offices
in presence of PSPF officials.
If you are an employee of an Executive Agency
you will require a letter of introduction from
your employer.
Q. DO YOU HAVE TO REGISTER AGAIN
IF YOU CHANGE JOB OR EMPLOYER?
A. No, you are expected to register only once.
If you have registered and have Salary check number
or allocated a PSPF number, as and when you change
jobs, please inform your new employer of your
membership of the scheme and let him quote your
salary check number in transactions with PSPF.
Q. CAN SOMEBODY USE YOUR SALARY
CHECK NUMBER?
A. No. A salary cheque number is unique to a
member and should not be used by anyone except
the person to whom it is issued. A salary cheque
number should be quoted in all transactions involving
a member and PSPF.
Ensure that your correct number is quoted on
your pay slip.
If your employer is deducting your monthly pension
contributions but you do not have a salary check
number or PSPF identification number please contact
PSPF Offices for advice.
UPDATING OF PERSONAL
RECORDS
Q. DO YOU HAVE TO INFORM PSPF
IF YOU HAVE CHANGED YOUR NAME?
A. Yes. Any member who changes his or her name
should contact the PSPF Offices for the change
to be effected on his personal records at PSPF.
Q. DO YOU HAVE TO INFORM PSPF
WHEN YOU CHANGE YOUR ADDRESS?
A. Yes. If you change your address please inform
the PSPF Offices for the change to be effected
on your personal records.
Q. CAN YOU CHANGE YOUR DATE OF
BIRTH WITH PSPF?
A. No. Date of births cannot be changed.
Q. HOW OFTEN CAN A MEMBER CHANGE
HIS BENEFICIARIES?
A. As often as possible.
BENEFITS
Q. WHAT ARE THE BENEFITS UNDER
THE PSPF PENSION SCHEME?
A. The Benefits are:
Q. WHAT DETERMINES THE AMOUNT
OF BENEFIT?
A. The scheme is salary-related and the amount
of benefit is determined by the contribution period.
CONCLUSION
For further enquiries please contact PSPF Offices,
Fourth floor, Sukari House, corner of Ohio Street
& Sokoine Drive, P. O. Box 4843, Dar es Salaam
or on 022-2120912.
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