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Tag Archives: Richard Byarugaba

NSSF takes on agency service model to expand reach

Kampala, Uganda |  THE INDEPENDENT |  Contributors to the National Social Security Fund now have more channels through, which to access its services following the launch of the agency system.  NSSF, which has 17 branches across the country has set up temporary outreach centers in an attempt to attract more contributors. …

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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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Development bank donates medical supplies to 60 hospitals

Kampala, Uganda |  THE INDEPENDENT | Julius Businge | As part of its Covid-19 Emergency Response Programme (CERP), the Eastern and Southern African Trade and Development Bank (TDB) has donated different types of locally-procured medical supplies, medical equipment and personal protective equipment (PPE) to 60 hospitals. In a statement shared recently, the …

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NSSF, Finance Ministry sabotaging midterm access-Lyomoki

Kampala, Uganda | THE INDEPENDENT | The Workers MP Sam Lyomoki has said there are plans to sabotage the National Social Security (NSSF) amendment Bill 2019 that seeks to allow for midterm access to members savings. The bill among other things proposes for midterm access for savers of 45 years …

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Activist petitions Constitutional court over NSSF monopoly

Kampala, Uganda | THE INDEPENDENT | An activist has petitioned the Constitutional court to declare that a compulsory requirement that employees must register and save their retirement money with only the National Social Security Fund (NSSF) is illegal and limits people’s freedom of choice and democracy. The petition is filed by …

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Officials want NSSF name changed

Kampala, Uganda | THE INDEPENDENT | Officials in the pension sector are debating the idea to change the name of National Social Security Fund (NSSF) because ‘the way it is now’ doesn’t speak to what the fund is. Martin Nsubuga, the executive director of the Uganda Retirement Benefits Regulatory Authority (URBRA), …

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1500 businesses write to NSSF to reschedule contributions

Kampala, Uganda | THE INDEPENDENT | At least 1500 businesses countywide have written to the National Social Security Fund-NSSF to reschedule their contributions for the next three months, URN has learnt. This follows a notice issued by NSSF on March 31st, 2020 inviting businesses and employers facing economic distress to reschedule …

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NSSF boss warns of tough times if forced to pay 20% to savers

Kampala, Uganda | THE INDEPENDENT | The Managing Director of the National Social Security Fund (NSSF), Richard Byarugaba has warned of the likelihood of the collapse of the fund if the suggestion that it pays 20 percent to each saver is approved. In a ‘passionate’ four-page letter to the Minister …

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