PSSSF board told to uphold accountability
THE newly appointed Board of Trustees of the Public Service Social Security Fund (PSSSF) has been directed to uphold the law and government guidelines to safeguard the fund’s sustainability and improve services to members.
The directive was issued by the Minister of State in the Prime Minister’s Office (Labour, Employment and Persons with Disabilities), Mr Deus Sangu, during the inauguration of the new PSSSF Board at the PSSSF Commercial Complex in Dar es Salaam over the weekend.
The inauguration came two months after President Samia Suluhu Hassan appointed a new Board Chairperson following the dissolution of the previous board.
Mr Sangu said the board’s core mandate, as provided under Section 11 of the PSSSF Act, is to oversee the fund’s operations, including member services, collection of contributions, investment of resources and payment of benefits.
He said the board must discharge its responsibilities in full compliance with the law, government regulations and guidelines, while ensuring effective implementation of the fund’s five-year Strategic Plan in line with the Tanzania Development Vision 2050.
“You have assumed office at a critical time when the fund has begun implementing its five-year Strategic Plan. This plan will serve as the roadmap for executing your responsibilities and achieving the fund’s objectives,” Mr Sangu said.
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He also urged board members to uphold integrity, accountability, transparency and teamwork, saying the government expects the board to strengthen the fund and enhance services to members.
On investment, Mr Sangu stressed that members’ contributions must be managed professionally and invested prudently to preserve their value while generating sufficient returns to meet future benefit obligations.
“Members’ contributions are invested today with the expectation of paying benefits many years from now. It is therefore essential that these funds are invested in productive, secure and viable projects in accordance with the government’s investment guidelines,” he said.
He added that prudent investment and sound governance will be crucial in maintaining the fund’s financial stability, ensuring timely payment of benefits and improving service delivery as PSSSF implements its strategic priorities over the next five years.
