Over 1,300 orphaned secondary school students on PPF Pension Fund sponsorship can now wear a smile after the scheme was extended for two more years. The initiative comes as PPF commemorates its 35th anniversary, according to Fund’s public relations and marketing manager Lulu Mengele.
PPF launched its education support scheme in 2003, initially supporting the education of three students, but until 2012, the fund was supporting some 1,333 students. The initial arrangement was that orphaned students were to be supported by the fund until Form Four but according to Mengele, PPF has extended the education benefit it offers to cover up to the Sixth Form.
“For years PPF has been sponsoring children whose deceased parents were its members. This support covered from Standard One to Form Four, but having got views from our members, we have decided to extend the support to Form Six,” said Mengele.
She, however, noted that details of how the extended benefits will be offered will be revealed to members this October during the climax of the 35th anniversary celebrations.
According to Mengele, during the past years, the value of the Fund has increased from Sh50 million in 1992 to Sh1.3 trillion in March this year.
“We have also managed to pay pension to more than 25,000 retired employees. This amounts to Sh3 billion every month. We have never borrowed money from anywhere esle,” said Mengele.
PPF, just like other social security funds, faces the challenge of lack of public awareness on what their services entail, according to Godfrey Mollel, the PPF members’ services manager.
“We have opened offices in all zones in the country so as to educate our members and Tanzanians on the importance of saving for their future. PPF serves both those on regular employment and those who are not,” he said.
The fund, he said welcomes everyone including farmers and vendors. The fund is scheduled to conduct a customer’s week from 1 July to 5 July so as to offer Tanzanians enough information about PPF and its services.
“We urge Tanzanians to visit our offices in Dar es Salaam so that they can learn different services and benefits we offer. Our directors will be happy to save you,” said Mengele.
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