‘Be ready for Vision 2050 implementation’

COAST REGION: MINISTER of State in the Prime Minister’s Office responsible for Labour, Employment, Youth and Persons with Disability, Mr Deus Sangu, has called on the Public Service Social Security Fund (PSSSF) to position itself strategically for the implementation of the National Development Vision 2050.

The minister made the call over the weekend while officiating the launch of the Third PSSSF Workers’ Council at the Mwalimu Nyerere Leadership School in Kibaha, Coast Region.

He urged employees of the Fund to begin preparations for the implementation of the national development blueprint, which is scheduled to commence in July this year.

“The main directive of Vision 2050 is to grow the economy and create employment. We must ensure that the funds we invest contribute to economic growth and that the projects we undertake are capable of generating jobs, particularly for young people,” Mr Sangu said.

He emphasised that public institutions entrusted with managing national resources, including PSSSF, have a critical responsibility to support government priorities through prudent investments and efficient service delivery. The minister commended PSSSF for exceeding its contribution collection target for the first half of the 2025/26 financial year.

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He noted that the Fund had planned to collect 1.1tri/- between July and December 2025 but successfully raised 1.2tri/-.

“This achievement reflects strong commitment and effective management. I urge you to maintain this momentum and continue safeguarding the interests of contributors,” he said.

Mr Sangu also praised the Workers’ Council for providing valuable guidance to the Fund’s management, noting that such collaboration had played a key role in the institution’s positive performance.

“Our duty as public servants is to remain patriotic, dedicated and always put national interests first,” he added.

Earlier, PSSSF Director General Fortunatus Magambo said the establishment and regular convening of the Workers’ Council complied with legal requirements governing public institutions. He explained that the council brings together management and staff representatives from all zones, directorates and units, as well as representatives from trade unions TUICO and TALGWU.

“This inclusive structure enhances employee participation in decision-making and improves efficiency in the workplace,” Mr Magambo said.

Presenting the Fund’s performance report for the July– December 2025 period, he said PSSSF collected 1.272tri/- in contributions, equivalent to 110 per cent of the target. During the same period, the Fund paid benefits amounting to 883.26bn/-, representing 99.36 per cent of planned disbursements, while investments reached 965.37bn/-, equivalent to 113 per cent of the target.

Mr Magambo further revealed that the Fund registered 21,792 new members, representing 78 per cent of the target, attributing the shortfall to limited public sector recruitment during the period.

He also reported that PSSSF received an unqualified audit opinion for the 2023/24 financial year, reflecting sound financial management.

The Director General informed the minister that the newly launched council is the third since the Fund’s establishment in 2018, adding that the outgoing council made significant contributions to institutional growth.

He expressed confidence that the new council would continue to strengthen cooperation between employees and management, improve service delivery and support national development goals.