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Tag Archives: nssf

NSSF hit by COVID-19

The pandemic has eroded return on contributor’s savings Kampala, Uganda | JULIUS BUSINGE | Uganda’s pension firm, National Social Security Fund, will pay low interest rates on contributor’s savings due to the impact of coronavirus pandemic. NSSF Managing Director, Richard Byarugaba, flanked by his deputy, Patrick Ayota, said on Sep.24 …

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NSSF interest may dip to single digit

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund forecasts it will pay members less than 10 percent interest down from the double-digit interest rate that it has paid over the last several years after their operations were adversely affected by the COVID-19 pandemic. The final interest rate …

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Parliament halts decision on NSSF mid-term access to benefits

Kampala, Uganda | THE INDEPENDENT | Parliament has halted its decision on the proposed mid-term access to benefits by contributors to the National Social Security Fund (NSSF) after legislators failed to agree on the group of people and percentage that should be availed. This followed a debate on a joint committee …

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Joint committee rejects NSSF direct lending to gov’t

Kampala, Uganda |  THE INDEPENDENT | A  joint team comprising members from the finance and gender committees in parliament has rejected proposed direct lending by the National Social Security Fund (NSSF) to the government. The committee members say that this is intended to avoid abuse of member’s funds and conflict of …

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NSSF members can now submit claims via online

Kampala, Uganda | Julius Businge | On Sept.08, the National Social Security Fund executives announced that members who qualify for withdrawal of their savings can now submit and track their claims online and through their internet enabled devices like mobile smart phones. The NSSF Head of Marketing and Communications, Barbra Teddy …

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Pension sector assets hit Shs13.2 trillion

Industry regulator says the future is bright amidst current COVID-19 pandemic Kampala, Uganda | JULIUS BUSINGE | Uganda’s retirement benefits sector recorded a 13.8% increase in assets to Shs13.2trillion for the year ended Dec. 2019, according to the Uganda Retirements Benefits Regulatory Authority’s performance latest report presented on Sept.02 in …

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