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The Mozambican government has today created the Pension Fund for State Employees (FPFE), a measure that will see public officials’ social security being detached from the State Budget, the Council of Minister has announced.
Mozambique’s Council of Ministers spokesperson, Ana Comoana, said the FPFE will have financial and administrative autonomy, and will be endowed with capacity to generate revenues for its sustainability.
“The pensions of state employees are currently paid through the State Budget, but the creation of the Fund will allow the social security in the State to have the capacity to generate its own revenues, through investments and partnerships,” explained Comoana during a press conference.
He said the institution of the Fund was made through a decree approved today by the Council of Ministers.
The current burden on state workers’ pensions and the foreseeable growth of this expenditure require the identification of financing alternatives, he said.
Comoana further explained that private sector workers will continue to send their benefits to the National Social Security Institute (INSS), which will be responsible for paying their pensions.
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