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Tag Archives: pension

NOTU opposes Kasaija move to liberalize pension sector

  Finance Minister Matia Kasaija will soon convene a stakeholders meeting to deliberate on the latest disagreements over liberalizing the pension sector. The disagreements follow the re-tabling of the Uganda Retirement benefits sector liberalization bill 2011 before parliament seeking to end the monopoly of NSSF and allow private players join …

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Government re-tables NSSF Bill

The government has reintroduced the Retirements Benefits Sector Liberalisation Bill 2011 to Parliament amidst protests from Worker’s members of parliament and trade unionists. The Bill is aimed at ending the monopoly of the National Social Security Fund as the savings body for workers. The Fund is now worth Shs6 trillion. …

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PENSION SCAM: Lwamafa, Obey and Kunsa guilty

The Anti-corruption Court has ruled that the three former officials of Ministry of Public Service in the Pensions Scam case are guilty of causing a financial loss to government. Jimmy Lwamafa who was then Permanent Secretary, together with Christopher Obey then Principal Accountant and Stephen Kiwanuka Kunsa then Commissioner Compensation Department, …

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Members query NSSF bosses

Parliament asked to expedite Pension reforms as bosses defend cautious approach to investment Only days after the National Social Security Fund (NSSF) slashed the interest rate paid to members from 13% to 12.3%, the Fund’s top bosses faced their members at their Annual Members Meeting on Oct.12, writes Patrick Kagenda …

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NSSF interest rate down to 12.3%

Unfavourable economy forces NSSF to cut interest rate for first time in six years For every Shs 1 million you have saved with the National Social Security Fund (NSSF), Shs 123,000 has already been credited to your account as interest payment. Of course this is lower than the Shs 130,000 …

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Judge pins city lawyer in sh15bn pension case

Masaka senior resident judge John Eudes Keitrima has taken the witness stand in a pension case in which city lawyer Bob Kasango with three former officials of the Ministry of Public Service and a high court clerk allegedly stole over sh15bn meant for 6339 pension claimants. Justice Keitrima accused Kasango of using forged documents, that were …

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VIDEO: Ministry of Public Service decentralising pension cases

VIDEO:  Pension scheme reforms are long overdue in Uganda.  To many, the mention of pension quickly relates to struggles to access it, and many have reportedly been conned in the process of chasing their documents to have their accounts credited. To solve this, the Ministry of Public Service has now decentralized the system …

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Pension sector opportunities

Uganda, East Africa’s third largest economy will benefit from the liberalisation of the pension sector once Parliament approves the Pension Sector Liberalisation Bill into law, experts say. Speaking to over 30 journalists at a media sensitization campaign in Mukono, about 20 kilometres away from the capital city, Kampala, Racheal Sebudde, …

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