Tag Archives: nssf

By Julius Businge The National Social Security Fund (NSSF) has recorded Shs3 trillion as its asset base for the period ending November 2012, the Fund’s  Managing Director, Richard Byarugaba told a press conference in Kampala on Nov. 6. Byarugaba said over the past 12 months, despite the harsh economic conditions, …

By Andrew M. Mwenda How a tiny minority of trade unionists have used politics to wrest control from the majority of the fund’s subscribers. In his State of the Nation address, President Yoweri Museveni said government was going to borrow money from the National Social Security Fund (NSSF) to finance …

By Richard Byarugaba At the end of the 2009 fiscal year, the balance was Shs95 billion, by end of the 2011 it had dropped to Shs28 billion Our attention has been drawn to recent press reports regarding Shs28 billion reported by the Auditor General as being held in a suspense …

  Our article titled, “NSSF on the spot,” (The Independent, March 02- 08), which was based on the Auditor General’s report of 2011, pointed out a range of issues mainly revolving around the Fund’s performance. The Independent sought out the Managing Director Richard Byarugaba to get a response to the …

  By Peter Nyanzi Workers turn to mass action to protect savings Fed up with government’s apparent lack of concern for their welfare, workers in Uganda are resorting to mass action in a bid to put pressure on the government to protect their pension savings in the National Social Security …

By Peter Nyanzi Extravagance, high expenditure eroding workers’ savings As the NSSF top bosses sing high praises about their financial statements for 2011, financial experts have started punching holes in it. In a statement issued last week, NSSF managing director Richard Byarugaba said for the first time in 10 years, …

By Peter Nyanzi Isaya Mulondo worked as a mechanic for construction firms in Kampala for 20 years before he retired at 54.  Eight years earlier, he had lost his first wife with whom he had three mature children.  He married again and bore two more children. On retiring, he got …

By John Njoroge State House involved in search Kagina, Rutega, Muhairwe named On December 30, 2009 the National Social Security Fund (NSSF) appointed Grace Isabirye as Acting Managing Director (MD) pending a formal appointment of a new MD by the NSSF board of directors. Isabirye had been NSSF’s Chief Investments …

By Andrew M. Mwenda Almost every two years we are treated to the spectacle of all the ills at the National Social Security Fund (NSSF). An inquiry into the Fund has always exposed rot leading to the board and top management getting fired, ministers responsible being reshuffled, sometimes the managing …

By Patrick Kagenda Interest payments plunge from 14% to 3 %, inflation hits 15% As the July deadline for the National Social Security Fund (NSSF) to declare the annual interest to its members nears, speculation is mounting that the compulsory saving scheme for all private sector workers could announce a …