Legislators’ wages will continue to be paid even after Parliament is dissolved in Swaziland. When the government ceases paying their salary in November 2023, re-elected or unelected MPs are promised a tax-free pension gift of E441 000. A minister might receive R607,000 tax-free. It should be noted that the remaining two-thirds for backbenchers, the equivalent of almost R882 000, will be taxed. One-third of their contribution to the Members of Parliament and Designated Office Bearers Pension Fund (MOPADO) is represented by the R441 000. According to one politician, the primary reward of becoming a legislator has always been the pension payout.
The Parliamentarians’ Pension Fund is a defined contribution plan, with member benefits limited to their contributions, whereas the Public Service Pensions Fund is a defined benefit plan. The money is not available for withdrawal for any reason. This is in accordance with the stipulations of the Retirement Funds Act. At the end of the term of office, Finance Circular No.2 of 2013 states that one-third of the benefit might be paid in a lump amount. Prior to the revision to the MOPADO statute, the outstanding sum was due when the member reached the retirement age of 55. However, it has been established that the member begins receiving the pension immediately upon the completion of his or her term of duty in Parliament.
“This is the money we use to buy tractors and build bedsitters. You can build two or three decent bedsitters at a cost of E400 000,” stated the MP, who spoke about the pension payout under the condition of anonymity. You can then use the salary you have been earning after the dissolution of Parliament to pay the builder.” He advised his coworkers to use the money prudently. “This money is not for alcohol or spending on entertaining friends,” he warned.
A pension contribution of 15% of a parliamentarian’s base salary is withdrawn monthly, with the government contributing 30%. It practically implies that the fund receives 45 percent of the MP’s base salary of R49 000. The legislator invests R22 050 every month, for a total of E1 323 000 over a five-year period. Conservatively, the 103 legislators donate more than R136.269 million to the fund.
Do you think its right for legislators to receive that much money while the country endures an economic crisis? Why do you think the parliamentarians are entitled to so much money? What do you think can be done with all this money given to the lawmakers? Join the conversation.
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