Who's Online

We have 36 guests and no members online

Social Share

 

Uchukuzi retirement scheme picks pace

Plans are on top gear to step up the effectiveness of the PSV retirement scheme known as uchukuzi  retirement/savings plan, which is aimed  at benefiting  most operators in the industry who are currently either non-pensionable, or have not pension scheme whatsoever.

The initiative, which is spearheaded by the Matatu owners association for its vast membership as well as potential  members, is expected to

handle retirement and savings for members in  years to come, and is  already seen as a potential  success barely into its inception. The retirement of the benefit scheme is motivated and premised on the fact that the workers following factors. “The board of the Matatu owners association beside vested with the responsibility of championing the rights and interests of the Matatu industry in general, members expect them to promote and initiate innovative developments in the sector,” says MOA chairman Simon Kimutai. “It is in this regard, that the directors consciously elected to start a retirement benefits scheme for the Matatu operators.”

Keeping meaningful savings

Matatu workers miss out on keeping meaningful savings for use in their retirement. This is precipitated by the fact that the workers earn daily wages and in the absence of an organized channel for saving the many ends up being used in the current consumptions. ”being an industry characterized by ease of worker mobility from one individual Matatu owners to another, retention of workers is a big challenge facing the Matatu owners,” says Mr. Kimutai. ”workers turnover is high, thereby creating business instability for the Matatu owners. Besides, workers tend to work for short stints of their productive lives in the Matatu industry moving out to secure employment in other sectors.”

Collection of exact income from transport services rendered is a huge task. In many instances income earning received by Matatu owners vary depending on what the workers conductor and drivers collude to declare. Matatu owners make do with compromised earnings which fall below the actual potential earnings. As a way of resolving this problem, Matatu owners set daily income targets which the drivers are expected to achieve. Unfortunately these targets still fall below the genuine optimal income earnings.

The scheme will therefore address these gaps and challenges by providing the operators a hope for tomorrow and a retirement future.

Our adresses

Tumaini House, 4th Floor

P.O. Box 2462-KNH, NAIROBI

Tel: 020-2605222

info@matatuowners.com

moakenya2003@yahoo.co.uk

Our Location