SOCIAL SECURITY REFORM

SPSSR > FAQs > 7. How will the current pension and social security system be impacted by the proposed reforms?

Question

7. How will the current pension and social security system be impacted by the proposed reforms? 

Answer

The pre-existing rights of current members will be protected. Some of the present schemes that do not meet the required standards will have to close, and their members transferred to the NSSF. Other pension schemes will have to merge to reduce costs. All pension schemes will need to be evaluated and accredited before they can operate so that they provide adequate protection to members.
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Created at 3/1/2011 4:02 PM  by Sharvania Pillai 
Last modified at 3/1/2011 4:02 PM  by Sharvania Pillai 




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