STAFF WRITER
Namibia will receive a report from the International Labour Organisation( ILO) with guidelines on the implementation of the National Pension Fund(NPF) in the near future.
This comes after the country missed the April date set by President Netumbo Nandi-Ndaitwah for the Social Security Commission (SSC) to roll out the NPFwhich has been stalled for decades owing to challenges from the commission as well as legal gaps.
Speaking at the Tripartite consultations and strategic engagement organised by the ILO Acting Executive Director in the Ministry of Justice and Labour Relations, Aune Mudjanima said the implementation of the NPF is a matter of urgency and will not be delayed by further consultations and engagements.
“An important foundation for the next phase of this reform is the detailed assessment undertaken on Namibia’s alignment with ILO Convention No. 102 – the Social Security (Minimum Standards) Convention,” Mudjanima said.
She said, “Therefore, Government, with technical support from the International Labour Organization, undertook a comprehensive gap analysis to determine where Namibia currently meets the Convention’s minimum requirements and where legislative, institutional or administrative improvements are required.”
The NPF will be managed and administered by the SSC.
“Because delays in social protection reform are not merely administrative delays. They have consequences for workers, families and future
generations. Every year that an effective pension arrangement remains unrealised is another year in which many Namibians remain without the protection and dignity that a comprehensive social security system should provide,” Mudjanima said.
Mudjanima said the report by ILO show clearly where Namibia already meets the minimum standards and where legislative or administrative improvements are needed.
“This is
important because the National Pension Fund must not simply be designed around our immediate policy Ambitions. It must be anchored in internationally recognised principles and minimum standards of social security,” she said.
She added that, “The final report, which we expect next month, will therefore provide an important evidence base for the
decisions that lie ahead. It will help us identify the remaining policy and legislative gaps and ensure that the architecture of the NPF is consistent with international standards and good practice.”
Mudjanima said a major enabler to implement the NPF is the ongoing reform of the Social Security Commission Act.
“The Government, the Social Security Commission, employers’ organisations and workers’ organisations have worked together over many months to modernise the law, strengthen governance and create the legal space needed for the NPF to function properly. These amendments should not be viewed as a routine legislative exercise. They are fundamental to the institutional architecture of the future pension system,” she said.
She said the legislation must provide clarity on institutional mandates and responsibilities, the collection and management of contributions, benefit administration, governance arrangements, accountability and oversight.
“Most importantly, the legal framework must inspire confidence among contributors and beneficiaries. People must have assurance that their contributions will be properly administered, that the institution will be appropriately governed, and that there will be effective mechanisms to safeguard the interests of members and beneficiaries,” she said.
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