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CAG calls for building strong pension schemes

CONTROLLER and Auditor General (CAG), Prof Mussa Assad has underscored the need for building strong pension schemes that can collect membership contributions and timely disburse retirement benefits.

Prof Assad made the plea in Dar es Salaam yesterday at the media briefing on the United Nations Board of Auditors (UNBoA) meeting held in New York last week where he completed his six-year tenure at the board which began with his predecessor, Ludovick Utoh in 2012.

“Strong pension schemes were not only important in the collection of membership contributions and payment of benefits but also for the country’s economic growth,” he said while referring to some heavily indebted UN organisations that failed to pay membership contributions and hence deprivation of retirement or terminal benefits.

He said Tanzania audited 10 out of 28 UN organisations and presented the report at the meeting where some were found burdened with pension liabilities thus depriving members’ terminal or retirement benefits.

Similarly, Prof Assad called on the need of building strong and autonomous institutions instead of individuals that can execute their functions independently from individual interests.

“Having autonomous institutions in the country can provide significant platform in building and enhancing good governance and transparency in the use of nation’s scarce resources,” he said.

After completing his tenure, Tanzania handed over the mantle to Chile's Controller and Auditor General, Jorge Soto.

He said the meeting was the last for Tanzania to attend as a UNBoA member but it would continue with an observer member status in the UNBoA external auditors for two years.

He said during the period under review, Tanzania reaped immense benefits including the expertise that the 200 Tanzanians went through in different parts of the world to audit the UN organisations.

“We need to use efficiently this manpower for the benefit of the country’s economic development particularly in ensuring proper use of the nation’s resources,” he noted.

He said Tanzania was on track in the implementation of the Sustainable Development Goals (SDG) but advised on the need to prioritise some areas in order to achieve big results.

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Author: DAILY NEWS Reporter

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