Legal Digest Summer 2019
PreambleThis issue of the quarterly Legal Digest features changes within the Retirement Benefits industry under the Acts of Parliament segment. Some of the changes introduced include:-
- Limited access to retirement benefits by members of defined contribution schemes who have not attained the retirement age, to only 100% of their member contributions, with the employers’ contributions being inaccessible and locked in until the member attains the retirement age;
- Reduction of the transfer period of Schemes that invest in Guaranteed Schemes from three years to one year; and Allowing members of Umbrella Schemes to make additional voluntary contributions towards funding a post-retirement medical fund.
These changes are mainly aimed to enhance the welfare of retirees and promote the growth of pension schemes.
The segment on Bills highlights the Constitutional (Amendment) Bill 2019 which has been dubbed as the “Punguza Mizigo” Bill as it mainly seeks to address the issue of over-representation in Parliament as well as other matters, including the term of the presidency. The section also discusses the Gaming Bill, the Data Protection Bill, the draft Huduma Number Bill, the Finance Bill and the Land (Amendment) Bill as well as their impact.
From the courts, we focus on developing of jurisprudence on criminal matters, data protection, taxation of Advocates’ Bill of Costs, succession, among others. We also highlight the impact of these cases on the citizens, both individual and corporate.
These are only a few of the numerous legislative as well as jurisprudential decisions from the courts which offer guidance on various areas of our laws and it is our hope that you find the Digest informative. We would appreciate your feedback on this issue and previous issues of the Digest, as we continue to strive to share local and global legal developments with you.
Clickhere to read more.