Worker participation crucial in economic revival - Tucna

The Trade Union Congress of Namibia (Tucna) says workers have a part to play in the revival of the economy and their views should be taken into consideration if Namibia is to recover on the economic front.This was the stance of its secretary-general Mahongora Kavihuha in anticipation of the Workers Day celebrations slated for 1 May.“May Day 2022 will mark what ordinary people want and need. We have observed with concern that discussions around or on recovery from the effects of Covid-19 are now at an advanced stage worldwide, even here in our country,” he said.Trade unions, according to Kavihuha, have a part to play in helping contribute towards Namibia’s economic recovery.“These discussions are carried out without the involvement of trade unions who ought to form an integral part of these discussions. Hence our theme for this year’s May Day, ‘No meaningful Covid-19 recovery without genuine trade union involvement’,” he added.‘Disturbing’Intended changes to pension fund pay-outs in terms of the Financial Institutions Market Act (Fima) will also enjoy attention during the May Day celebrations, the secretary-general said.The Namibia Financial Institutions Supervisory Authority (Namfisa), the regulator of pension funds, has proposed preserving 75% of workers’ pension funds upon resignation, dismissal or retrenchment before the age of 55.This development has drawn widespread criticism. The change is expected to be implemented on 1 October.The union said there was a need for further consultation, with Kavihuha describing the proposal as “disturbing”.“The second main disturbing issue revolves around the negotiations on Fima for which Tucna already submitted a demand to Namfisa to postpone the 1 October implementation to a later date,” he said.The delay, Kavihuha said, was necessary to allow for comprehensive evidence-based research on how to transform the current pension regime, to provide the union sufficient time to seek advice internationally and to allow for the finalisation of the Financial Service Adjudication Bill.

Worker participation crucial in economic revival - Tucna

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Namibian Sun 2025-05-02

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Worker participation crucial in economic revival - Tucna

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Namibian Sun 2025-05-02

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