Minister urges nationals to join new savings scheme

The Minister of State in charge of Social Affairs in the Ministry of Local Government, Dr Alvera Mukabaramba, has called on local leaders to help residents understand the purpose and benefits of saving for their retirement.

She made the call Tuesday afternoon in Kayonza District, during citizens’ forum (Inteko y’Abaturage) in Gikaya Cell, Nyamirama Sector.

Dubbed ‘Ejo Heza’, the scheme was launched during the 16th National Dialogue (Umushyikirano) in December last.

“Most of the older generations had never saved for their retirement, except public employees,” she noted.

“You cannot blame them, though. There were no saving schemes, only those who had formal jobs could save for their retirement,” she said.

“Local leaders should explain to residents that there is a scheme which, whether a farmer, businessperson, or a person of any occupation can save such that when difficult years come; they will have money set aside to help them,” she pointed out.

For every Rwf15,000 and Rwf18,000  annual contributions for those in Category One and Two respectively, the Government will contribute an equal amount, Mukabaramba reminded.

Those in category three will get 50 per cent bonus from the Government.

“If you receive money in the direct support plan, you can take a small portion and save it in Ejo Heza,” she noted.

“Young people should know this system, they should save early. Moreover, parents can save for their children too—very little money actually– so that once the children go to school you will not have to worry for school fees.”

“That is the best way for people to make progress,” she said.

editor@newtimesrwanda.com

 

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