Sessional Paper No. 12 of 1963-65 on Observations on the Proposed National Provident Fund

Abstract

In March 1954, a Social Security Committee was appointed under the chairmanship of Mr. W. N. Dolton to investigate the need to provide by legislation for the social security of employees in their old age. The Committee reported on 28th February 1956, and their report was published in 1957. The Committee recommended, inter alia, that: the introduction of legislation to provide for old age security for all races should no longer be delayed; The scheme should apply in the initial stages to urban employment only, but should be extended progressively to cover the whole country; The finance to pay benefits should be provided by means of equal contributions from employers and employees, the scheme to operate on the "pay-as-you-go" system whereby the contributors of today pay for the beneficiaries of today; and Government should pay the administrative costs …