Parliament is expected to pass a law that extends the lavish lifestyle of retired presidents to their families, raising fresh concerns about governmentsโ commitment to fiscal probity.ย
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The bill further suggests that spouses of former presidents should also benefit from the presidentโs pensions and retirement benefits post-presidency.
If passed, the law would entitle the President wife, children, and dependents to a monthly tax-free salary of approximately P55,000 after he passes.ย The President’s (Pensions and Retirement Benefits) Amendment Bill of 2024 will include a tax-free salary for the retired presidentโs spouse children, and dependent children pegged at 50 percent of the Presidentโs salary if the president dies.
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It alludes that even if the former president passes on their children and partners should continue receiving the welfare from the retirement benefits.ย
In the new law, the President and Vice Presidentโs biological children, those born out of wedlock and adopted onesย shall upon their deaths, be entitled to an untaxed equivalent of 50 percent of the President and VPโs basic monthly until they reach the age of 18.
โAmend Section 3 of the Act to specify the benefits of the spouse of a person who has held the Office of the President. Section 4 of the Act such that a dependent child of a person who has held the Office of the President is able to benefit in their own right, and not just when the surviving spouse dies,โ read the bill.
In the past, former presidents were entitled to three cars, the amendment seeks to double that. The number ofย securityย officers for the retired president shall be determined by theย appropriateย authorities at the time. However, he shall further be entitled to a private secretary, a secretary and an office attendant.ย He is also entitled to a fully furnished house in Gaborone, with two maids and a gardener. Other benefits include first class international trips and more.ย
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Upon retirement, the Vice President shall be entitled to 10 staff members, being 6 security officers, 3 drivers and 1 secretary. Other benefits include business class international trips and more.ย
Upon retirement, the President shall be paid a pension equivalent to his basic salary, or 80 percent of the incumbent Presidentโs salary, whichever is greater. Currently, President Mokgweetsi Masisi earns P1 325 108.70 perย annum, which translates to P110ย ย 425.72 every month.ย
He also has a new allowance which fetches P232 544. 16 per annum, translating to P19 378. 68 per month.ย
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The Vice President shall also upon retirement earn the equivalent of his salary during his time in office, or 75 percent of the incumbent VPโs salary, whichever is greater.ย
Currently, the VP earns P1 162 376.50 annually, which is equivalent to P96 864.70. He also has a hospitality allowance of P14 330.36 annually, or P1 194.1 every month.
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The Bill comes at a time when the countryโs economy is hit by a slump in revenues as diamond sales fall. The IMF recently revised the countryโs growth forecast citing depressed demand for diamonds.ย
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