Would-be retirees prepared for leading life out of work

16Jul 2021
Polycarp Machira
The Guardian
Would-be retirees prepared for leading life out of work

THE Public Service Social Security Fund (PSSSF) has embarked on nationwide seminars for civil servants about to retire to prepare them for life out of work, including proper management of their terminal benefits

The seminars are being conducted under the theme “Education on investment for sustainable life after retirement” and are chiefly meant to enable those nearing retirement to get appropriate knowledge on how to face life after employment.

Speaking here yesterday during the opening of the first such seminars, PSSSF acting director general Mbaruku Mgawa said the training would be held in every region in country, targeting civil servants with less than two years before retiring.

He warned that there were a lot of “confidence tricksters waiting pound on gullible retirees and snatch any little money they have”, and hence the need to equip would-be retirees with understanding on how evade such snares and invest in sustainable projects.

“Owing to the rise in the number cases of fraud and confidence tricks targeting civil servants who have retired, we have deemed it wise to engage them in empowerment seminars on how to avoid such challenges,” he said.

Mgawa explained that since there were numerous cases of corruption and conning, officials from the Prevention and Combating of Corruption Bureau (PCCB) and the Tanzania Communication Regulation Authority (TCRA) have been invited to make presentations on the problems and how to go about them.

He said that various financial institutions have also been incorporated in the annual seminars to provide education on investments and judicious expenditure, adding that the Small Industries Development Organisation (SIDO) would also chip in by equipping the trainees with knowledge and skills on investing in small industries.

Opening the seminar, Dodoma Regional commissioner Anthony Mtaka called on all those nearing retirement to make investing gainfully a priority and to do business with credible banks and other financial institutions.

He said some financial institutions are not trustworthy and have been involved in corrupt activities, adding that retiring civil servants get an avalanche of enticing but not necessarily credible information, including from fraudsters.

The RC urged retirees to be “extremely careful” with their terminal benefits and avoid being swindled by people with ill motives, “some claiming to be money lenders with small interest rates, only to take up almost every cent at the end”.

“I appeal to all of you who are just about to retire to be extra careful with your benefits. Desist from getting involved with people with bad motives whose backgrounds are not clear, lest you start moving from office to office looking for sometimes elusive support on how to get your rights,” he said.

Mtaka also welcomed the would-be retirees to his office for advice if they need to borrow money from financial institutions claiming to charge low interests.

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