Uganda Retirement Benefits Regulatory Authority Topic Get Alerts
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Fresh details have emerged as to why former Public Procurement and Disposal of Public Assets Authority (PPDA) Executive Director Edgar Agaba will not scoop the job of MD National Social Security Fund despite performing well in interviews carried out by Price WaterHouseCoopers (PwC).
KAMPALA, UGANDA – A more efficient pension system will help Uganda’s elderly better support themselves after retirement, as well as help the country avoid the financial pressure that normally arises as the number of public pension recipients grow, a World Bank report released last week indicates. The fourth World...
Coverage from Kenya Newspapers
The opening up of the pensions sector that could see National Social Security Fund (NSSF) get some competition has pulled two sides of the debate further apart.
Can Uganda’s pension system reduce vulnerabilities? Today, Uganda has 15 million people in its workforce.
The National Social Security Fund (NSSF) Act will soon become obsolete and not applicable in the liberalised pension services sector, whether repealed or amended, an official has said.
Moses Bekabye, the interim chief executive officer of the Uganda Retirement Benefits Regulatory Authority (URBRA), which will regulate the private pension schemes, says investing in pension funds will be safe because of the tighter regulations set by the body.
On Labour Day May, 1 2014; Workers told President Museveni that Finance Ministry is planning to kill National Social Security Fund (NSSF).
- The Monitor
Workers oppose plans by Finance ministry to disband NSSF
IRA boss Kaddunabbi Ibrahim, State minister for Investment Fred Omach, ED Liberty insurance Joseph Almeida and MD Lions Assurance Newton Jazire during the reception of the annual general meeting at Serena. Humphrey Wanyama is an engineer. Though his earnings have barely improved since he was single and unattached, Wanyama now...
EXCLUSIVE: Kiwanuka, Muhakanizi Under Fire As Pension Row Deepens
Stanlib has introduced a new saving and investment scheme dubbed Stanlib investment umbrella fund. The umbrella fund is aimed at collectively soliciting funds and encouraging savings especially within the small and medium sector. The umbrella fund will then be invested diversely to develop returns that can withstand inflationary rates. Stanlib the Stanbic bank sister company has unveiled stanlib umbrella fund an investment plan that enables customers prepare for retirement through savings during their productive working life. The fund carters for SMEs and individuals with asset bases not large enough to attract independent management.This therefore requires the creation of a pool of funds from smaller institutions and individuals to form a size-able fund that comes with reduced administration costs. Stanlib general manger Annette Rumanyika Mulira says smaller employers and individuals can invest their retirement funds in the pooled pension at a reduced cost and this also allows professional management at the convenience of all the players. Different from the NSSF old way of operation, the stanlib umbrella fund saving plan operates in two categories, the corporate and individual umbrella schemes. For...
Coverage from Kenya Newspapers
That is what has come to describe the process of opening up Uganda’s pension sector. The latest is the growing rift within the task force, which minister of Finance Maria Kiwanuka set up to review the ‘troubled’ Retirement Benefits Sector Liberalisation Bill, 2011. Some members accuse the minister and senior technical members of her ministry of taking the revised bill to parliament without their consensus. Today, aggrieved members of the task force may address the media to distance themselves from the entire process. According to information gathered by The Observer, some members on the task force such as Patrick Ngolobe, the Human Resources Director at Uganda Breweries Ltd, accuse the chairman of the 40-member task force, Moses Bekabye, and Kiwanuka, of failing to discuss the final version of the bill with the task force before tabling it in parliament. Other members on the task force who share Ngolobe’s concerns include Musa Sebuufu, president of The Actuarial Association of Uganda (TAAU), and Nurudeen Hamidu, the Human Resource Operations manager at Dfcu bank. Last May, chairman Bekabye was quoted in the press...