Tuesday, February 09, 2016

Parastatal Pensions Fund (PPF)

Parastatal Pensions Fund (PPF) was established by the Parastatal Pensions Act, No. 14 of 1978 to provide pensions and other related terminal benefits to all employees from Parastatal and private sectors. The current operations of the Fund are guided by Parastatal Organization Pensions Scheme Act [CAP 372 R. E. 2002]. The Parastatal Pensions Fund as a social security scheme has the responsibility of registering members, collecting and administering members’ contributions, investing members’ fund and granting benefits to members depending on different contingencies as specified in the Act.
The vision of the Fund is focused towards freeing members from hardships arising out of loss of income due to old age, disability, death and the related risks. In order to ensure that our members are provided with the effective and efficient services PPF established a number of zonal offices close to the members. By the year 2010, PPF had established zonal offices in the following regions:- Arusha, Mwanza, Morogoro, Mbeya, and Dar es salaam, which also include, Ilala office, Kinondoni office and Temeke office. PPF has also established liaison offices in the following regions; Iringa, Tabora and Dodoma. Apart from opening offices close to members vicinity, PPF had also made it possible for members to access information relating to their contribution, pension and claims by using PPF TAARIFA. Through PPF TAARIFA, PPF members can obtain information regarding their contribution, pension and claims by using their mobile phones. This can simply be done by sending the word (s) ‘Michango’, ‘Pensheni’ or ‘Dai’ to number 15553.For more information please visit PPF website, http://www.ppftz.org.
Benefits Offered By PPFThe Fund operates two schemes these are “Traditional Scheme“and “Deposit Administration Scheme” both schemes were designed specifically to suit the diverse PPF clientele as well as ensuring maximum members’ satisfaction. Traditional Scheme is a mandatory and basic scheme which operates under clearly defined terms, conditions and procedures for the guaranteeing and awarding of
benefits to members as stipulated in the Act. Deposit Administration Scheme is a Defined Contribution Scheme, suitable for employees and anybody else who do not qualify for membership of scheme under pension or any other scheme under the current social security/pension funds.Generally, PPF offers the following benefits to members, Old age pension, Sickness/disability benefits, Death benefits, Survivors benefits, Education benefits, Gratuity benefits, and Withdrawal benefits.PPF is committed to deliver both effective and efficient services to our members. We are dedicated to continuously developing and improving our members’ services by focusing on keeping our members’ at the centre of all of our activities.

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