Over 1,300 orphaned secondary school students on PPF Pension Fund sponsorship can now wear a smile after the scheme was extended for two more years. The initiative comes as PPF commemorates its 35th anniversary, according to Fund’s public relations and marketing manager Lulu Mengele.
PPF launched its education support scheme in 2003,
initially supporting the education of three students, but until 2012, the fund
was supporting some 1,333 students. The initial arrangement was that orphaned
students were to be supported by the fund until Form Four but according to Mengele,
PPF has extended the education benefit it offers to cover up to the Sixth Form.
“For years PPF has been sponsoring children whose
deceased parents were its members. This support covered from Standard One to
Form Four, but having got views from our members, we have decided to extend the
support to Form Six,” said Mengele.
She, however, noted that details of how the extended
benefits will be offered will be revealed to members this October during the
climax of the 35th anniversary celebrations.
According to Mengele, during the past years, the
value of the Fund has increased from Sh50 million in 1992 to Sh1.3 trillion in
March this year.
“We have also managed to pay pension to more than
25,000 retired employees. This amounts to Sh3 billion every month. We have
never borrowed money from anywhere esle,” said Mengele.
PPF, just like other social security funds, faces
the challenge of lack of public awareness on what their services entail,
according to Godfrey Mollel, the PPF members’ services manager.
“We have opened offices in all zones in the country
so as to educate our members and Tanzanians on the importance of saving for
their future. PPF serves both those on regular employment and those who are
not,” he said.
The fund, he said welcomes everyone including
farmers and vendors. The fund is scheduled to conduct a customer’s week from 1
July to 5 July so as to offer Tanzanians enough information about PPF and its
services.
“We urge Tanzanians to visit our offices in Dar es
Salaam so that they can learn different services and benefits we offer. Our
directors will be happy to save you,” said Mengele.
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