Civil servants in the Kavango East Region are unhappy with the proposed Financial Institutions and Markets Act (FIMA) regulation of 75% preservation from their pension fund.

The regulation only allows 25% access to the pension fund upon retirement.

Civil servants raised their concerns at a consultation meeting with the Ministry of Finance.

The government explained that the 75% preservation fund aims to protect people so they can still live a better life after retirement, as research indicates that many people suffer after retirement.

The African Peer Review Mechanism (APRM) has engaged stakeholders in the ||Kharas Region to assess government performance to enhance good governance and foster sustainable development.

Civil servants, representatives from corporate business and civil organisations, and traditional leaders attended the regional consultative engagement at Keetmanshoop.

APRM is an African self-assessment mechanism that reviews good performance and encourages the implementation of policies and practices of good political, economic, and corporate governance in Africa.