Reserve Bank of Malawi who are the pension administrators in the country are holding pension awareness meetings in the country for Malawi Congress of Trade Unions (MCTU) affiliates. These meetings have started today in Blantyre at Victoria Hotels, in Lilongwe at Simama Hotel and in Zomba at Mango Lodge. At each meeting about 50 people have been invited,
In Malawi mandatory pension started in 2011. The pension act had a lot of bottle necks which the employee was not comfortable with. Some notable changes are the reduction of the waiting period from 6 months to 3 months, one can access 50% of his pension 5 years before retirement. Also new things have been introduced like the provident fund to which one can contribute and upon retirement get all his provident money.
The employees are also keen on directives especial on the total sum which one can get when they leave employment which currently stands at 500000.
The president of HFPCWU was present at the workshop in Blantyre together with the regional organizer for the south Rashid Majawa. Also present was a shopsteward from Transglobe.
In Lilongwe Judith Luwayo vice secretary for the women committee and the regional representative for the centre Yamikani Shawa attended the Simama meeting.
In Zomba Geza and one shopsteward from Sunbird Kuchawe attended
