Malawi govt to launch universal pension scheme – 500,000 to benefit

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About half a million Malawian pensioners are expected to benefit from a government scheme whose purpose is–to a greater extent–aid their day-to-day lives for the better hotly due to their diminished revenues.

MP Chikalimba : most people struggle greatly once they retir

Zomba Chingale MP John Chikalimba of Peoples Party (PP), who is spearheading the move in parliament, said once instituted–most probably this year–men and women, most living at over sixty years, will substantially benefit.

Chikalimba said the provision of the universal pension scheme, “will certainly improve the welfare of many.”

Said Chikalimba: “The thing is that most people struggle greatly once they retire, and we are pushing hard to achieve this. Once this is established, we project to have every pensioner get K20 000 a month which we believe will be better than nothing at all.”

According to Chikalimba, the scheme would be needing K16 billion every year for the 500 000 beneficiaries.

Mzuzu-based social commentator, Emily Mkamanga, hailed the project but said government should walk the talk on its sustainability.

“The programme is without debate a great one. But the problem is that they are mostly not sustainable. Let us work on sustainability on this one,” said Mkamanga.

Nyasa Times understands that Malawi has over 900 000 pensioners of which only about 300 000 benefit from various pension schemes.

Source: allafrica.com

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