By Nokuphila Haji | 2024-10-30

Minister of Public Service Mabulala Maseko says government will develop a National Pension Fund for civil servants because it would not be proper for them to join the Eswatini National Provident Fund with the Public Service Pensions Fund.

This was after Senator Chief Zabeni Shiba moved that the Senate adopts the report of the portfolio committee of the ministry of public service on the benchmarking exercise on the public service pensions fund in Zambia and Tanzania held between July 13 and 21. Maseko said after the exercise, they discovered that the model used in Tanzania was perfect. He said civil servants there were separated from private sector employees adding that what was being considered in Eswatini might work because it talks about the employer contributing a certain amount for the employee.

He said this amount would go towards the social security fund that the country wanted to develop. This was after Senator Prince Mphatfwa asked the minister about the model that they saw fit to be used by the country during their visits to the two countries. He also asked if it was possible for the country to mix the two entities and succeed, highlighting that this might lead to people losing their money, making an example of what happened on the issue of Ecsponent. He said they once attended a retreat hosted by the ENPF, where they got an insight on its refund level which was at 100 per cent.

He said ENPF revealed that its assets were at E1 billion while the PSPF’s assets were at E35 billion. He asked if ENPF would be able to take over the ‘big fish, which was PSPF. Senator Isaac Magagula said his concern was that they would skip things and mix silos without even addressing one issue on the ENPF. He said the issues of the ENPF had been outstanding and they had to be addressed. Senate President Lindiwe Dlamini then made the senators vote on the adoption of the report, which was later adopted.

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