Government Employees Provident Fund’s Voluntary Savings Retirement Scheme
Around only 6 per cent out of a 21 million active labour force in Tanzania are covered by social security. This being a major challenge in achieving quality of life for all, the Government Employees Provident Fund (GEPF) initiated the Voluntary Savings Retirement Scheme (VSRS) to provide pension coverage to all Tanzanians irrespective of the type of their employment.
The VSRS was initiated on a pilot basis in November 2009 following a series of in-house studies covering different economic players including farmers, small traders and organized groups, with a major focus on self-employed people.
Members are recruited through a series of seminars organized by the Fund within targeted areas. By 30 June 2011 the scheme had registered 6,555 members and collected a total of Tanzanian Shillings (TZS)370.92 million (about USD232,000).
2Tanzania GEPF 2011-1.pdf 224.17 kB