Design

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.

Main features

• no employee/employer relationship, which removes the need for double contributions;
• no fixed amount of contributions: one’s contribution depends on the ability to pay;
• no defined period for contributions: these can be daily, weekly, monthly etc.;
• addresses current and future needs of the member.

Achievement

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).