Management of funds of social security schemes in Tanzania: a critical case study of NSSF and PPF legal regimes

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Date
2004
Journal Title
Journal ISSN
Volume Title
Publisher
University of Dar es Salaam
Abstract
The study is on the Legal Aspects of Management of funds of Social Security Schemes in Tanzania with - special focus on the NSSF and PPF schemes. The Primary aim of the study is to make an in - depth study on the provisions of the law namely, the National Social Security Fund Act No. 28 of 1997; and the Parastatal Pension Fund Act No. 14 of 1978 - to see how adequate the laws are in ensuring effective management of the funds. The presentation is divided into six chapters. Chapter One gives background of the study. Chapter Two describes the evolution of formal social security systems in Tanzania. Chapter three and four make an in-depth examination of the laws that established the Parastatal Pension Fund and the National Social Security Fund. The underlying purpose was to examine what the laws provide in respect to utilization and management of the member’s money. More importantly to see how adequate the laws are in ensuring proper and effective management of the member’s contributions. Chapter five makes an overall assessment of the operations of NSSF and PPF schemes - with special focus on Investment activities and Benefit payment. Chapter six makes a general conclusion and recommendations. The major findings revealed that NSSF and PPF operations are governed by law. However, it was noted that some operations are not well covered by laws e.g. Investment activities, decision making process and benefit payments. The gaps have created room for mismanagement of the members’ money. Therefore it was noted that the two laws lack provisions which would guarantee members’ interest hence the two laws should be amended to provide proper and effective management of member’s funds. More importantly there should be a regulatory board to supervise, control and regulate activities of social security scheme operating in Tanzania.
Description
Available in printed form, East Africana Collection, Dr. Wilbert Chagula Library, Class mark (THS FOL KRD.T34M36)
Keywords
Social security
Citation
Manongi, S. J (2004) Management of funds of social security schemes in Tanzania: a critical case study of NSSF and PPF legal regimes. Master dissertation, University of Dar es Salaam. Dar es Salaam.