Cabinet approves Social Insurance Bill
By Okan Thomas Onyango
The cabinet has approved Social Insurance Funds Bill which is meant to cover the private sectors and all the other organizations which are not covered by pension’s funds.
Addressing the media yesterday, Michael Makuei Lueth, the Minister of Information, Communication, Telecommunication and Postal Services said that the presentation was appreciated by the Council of Ministers and it is a good boost to the employees of the private sectors because their lives and future are now insured.
“The Minister of Justice made a presentation on the Social Insurance Funds Bill which is meant to cover the private sectors and all the other organizations that are not covered by the pension’s funds, which only covers the public sectors. This is in order to insure the lives of the people who are working also in the private sectors because in the private sectors, there are some deductions which are made and these deductions will also contribute towards the future insurance,” Makuei said.
“The private sectors in this bill, 8% will be deducted from the salaries of the employees and the employers will be paying 17% to make a total amount of 25% per month. This amount will be kept safe, put aside and these funds will have its management to take care of the people in the private sector to make sure that their future is insured,” he added.
The Minister also said that the bill is an assurance to the people who are working in the private sectors and the employers should understand that the employees should not just be sent away at any time without at least their benefits.