Tag Archives: Savings

Kampala, Uganda | THE INDEPENDENT | Pension sector leaders continue to be divided on how best to manage the savings made by Ugandans for their old age, 10 years after the retirement benefits industry was formalized with specific laws. By January 2022, there were at least 64 schemes licensed by the …

Kampala, Uganda | THE INDEPENDENT | More than 90 percent of Ugandans who hold a bank account do not keep more than sh1 million at any one time on their accounts, an indication of the low savings levels in the country. There are an estimated 14 million bank accounts in …

Kampala, Uganda | THE INDEPENDENT | Groups and Savings and Credit Cooperative Organisations, SACCOs that have utilized funds under the Emyooga program, will be rewarded with another 20 Million Shillings as seed capital. This is aimed at encouraging good practices among beneficiaries of the presidential wealth creation program launched in 2019 to …

Kampala, Uganda | THE INDEPENDENT | The National Social Social Security Fund-NSSF together with the Ministry of Gender have pledged to expedite a statutory instrument that will ease access to savings by Ugandan workers. The commitment follows the enactment of the NSSF (Amendment) Bill which was assented to by President Yoweri …

Bududa, Uganda | THE INDEPENDENT | Youth leaders of Mabono sub county, Bududa district are demanding their Emyooga savings after failing to benefit from the program. The Emyooga initiative is aimed at enhancing wealth and creating jobs for the people of Uganda which saw every constituency financed with 30 million shillings …

Kampala, Uganda | THE INDEPENDENT | The National Council for Disability has proposed an amendment to the National Social Security (NSSF) Bill, 2021, to allow persons with disabilities to access half of their savings at 40. The bill which had been passed by the 10th parliament allowed persons with disabilities access …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has formally written to the Speaker of Parliament returning the National Social Security Fund Bill, 2019 with proposals for amendment. Oulanyah revealed the contents of Museveni’s letter dated 26th August, 2021 during the Tuesday plenary sitting saying that he had received …

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund-NSSF has asked parliament to split the current Fund into two to provide for workers who would want to have midterm access to their savings. Speaking to reporters at the NSSF head offices in Kampala on Thursday, Richard Byarugaba, the NSSF’s managing …

Amuru, Uganda | THE INDEPENDENT | An elderly couple in Amuru district has lost one million six hundred and fifteen thousand shillings after being damaged by termites. Seventy-five-year-old Bicentina Alal and her 80-year-old husband Tito Okema have been saving money in a metallic case for over three years. The couple lives …

Patients undergoing treatment for COVID-19 at an intensive care unit (ICU) can now partially access their NSSF savings Kampala, Uganda | THE INDEPENDENT | Savers with the National Social Security Fund can now partially access their savings should they be undergoing treatment for COVID-19 at an intensive care unit (ICU). The NSSF says …