Mozambique: Government wants gradual, calibrated capital account liberalisation
Mozambican government announces Pension Fund for State Employees
5:11 CAT | 06 Dec 2018
File photo. Lusa
The Mozambican government will next year create a pension fund for state employees, eliminating the need for the payment of pensions to employees to go through the State Budget.
“The sustainability of this fund will be ensured through the direct channelling of employee’s contributions and the state’s contribution as an employer,” Prime Minister Carlos Agostinho do Rosario announced during the presentation of the Economic and Social Plan (PES) and the State Budget (OE) of 2019, to be voted in the Assembly of the Republic today.
The fund will also be supported by the proceeds from profitable investments, insurance and low risk products, Agostinho do Rosário added.
Source: Lusa
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