15
May
Tujoromajo Kasuto The Minister of Finance Ipumbu Shiimi has postpone the compulsory preservation of retirement benefits to allow for adequate time for broader consultations on the envisaged regulation. He said the modalities on how the consultations will be undertaken will be announced in due course. The final standards and regulations were to be published in the Government Gazette on 1 October 2022 when the Financial Institutions and Market Act (FIMA) was to become operational. In terms of the new regulation when someone resigns, changes jobs or stops working they will be required to preserve 75 percent of their individual pension,…