The Retirement Benefits Sector Liberalization Bill 2011 has met yet another hurdle.
Workers bodies including NOTU and COFTU are now concerned not just about the content but also the speed at which ministry of finance is pushing the bill in its raw form.
Usher Wilson Owere, the chairman of the National Organisation of Trade Unions says it is illegal for the ministry of finance to publish the bill, yet they had agreed that it be revised by the stake holders.
He explains that the bill in its current form contains provisions for the repeal of the NSSF Act, Cap 222, a move that will result in the automatic closure of the Fund hence affecting the workers.
Govthowever maintains that workers concerns shall be considered.
Pension sector liberalisation, proponents argue that it will break NSSF monopoly and bring in much needed competition and efficiency.