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China slowdown's impact on Namibia

Photo: WEF

China, the world's second largest economy, has been undergoing an economic slowdown that is likely to persist until the end of the year, and Namibia is affected too.


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      Treasury postpones pension reservation regulations

      by Lazarus Amukeshe

      Iipumbu Shiimi

      FINANCE minister Iipumbu Shiimi has announced the postponement of the implementation of the regulation of the 75% preservation of retirement pension, to an unknown date.

      This is to allow further consultations to take place, Shiimi's office said in a statement on Friday morning.

      The regulations were due to come into effect on 1 October 2022, and called for pension fund beneficiaries to reserve a compulsory minimum of 75% of their pension benefits until they reach 55, the considered retirement age.

      No date has been given on the timeframe of the envisaged consultations.

      “It will be until the consultations are done,” said ministry spokesperson Wilson Shikoto.

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