• Entertainment
  • Interviews
  • Supplements
  • Jobs & Tenders
  • Facebook
  • Twitter
  • LinkedIn
  • Feed
  • Instagram
  • Youtube




  • Home
  • News
  • Politics
  • Business
  • Culture & Lifestyle
  • Technology
  • Opinions
  • Sports & Health
  • Travel
Latest News
  • [ January 13, 2021 ] President Museveni’s brother Sodo throws in the towel in Mawogola North race Uganda Votes
  • [ January 13, 2021 ] Fuel, sand trucks banned from accessing Kampala during elections News
  • [ January 13, 2021 ] Museveni calls for massive voter turnout, vigilance ahead of 2021 polls Uganda Votes
  • [ January 12, 2021 ] Kyagulanyi, Amuriat and Gen Muntu agree on joint vote protection News
  • [ January 12, 2021 ] Uganda’s 2021 electoral process highly tarnished – EU News
HomeNewsDuo management of NSSF is the best option, Workers petition President Museveni

Duo management of NSSF is the best option, Workers petition President Museveni

June 12, 2020 News 2

Usher Wilson Owere
Chairman General of the National Organization of Trade Unions (NOTU), Usher Wilson Owere.

Kampala, Uganda | By Michael Wandati | A fierce debate over who’s who to supervise the Shs10 trillion National Social Security Fund (NSSF), Uganda’s largest pension fund has reignited.

In a letter dated January 8th, 2020 seen by the Kampala Dispatch, workers bodies; the National Organization of Trade Unions (NOTU) and Central Organization of Free Trade Unions – Uganda (COFTU) have petitioned President Yoweri Museveni requesting him to consider duo management of the NSSF by both the Ministry of Finance and Ministry of Gender Labour and Social Development.

The workers under their Trade Unions (NOTU and COFTU) have also petitioned the Speaker of Parliament Rt. Hon. Rebecca Kadaga over the same contentious issue.

Speaking to Kampala Dispatch, NOTU Chairman General, Mr. Usher Wilson Owere, insists that the Ministry of Finance is a regulator and cannot take over full control of the Fund, and therefore, the workers under NOTU and COFTU assert that this crucial fact and especially the proposal for duo management of the NSSF is brought to the attention of the President and Parliament — which was bench marked by Parliament of Uganda and is being practiced by Ghana, Kenya, Tanzania and among other countries and economies of the world.

Ministry of Finance wants full control of management of NSSF contrary to a Cabinet decision of placing it under duo management by the Ministry of Finance and that of Gender in the proposed National Social Security Fund Amendment Bill, 2019.

In July 2019, Cabinet chaired by President Museveni passed the principles to amend the NSSF Act of 1985, where the ministry of Gender would be in charge of social security policy and compliance of NSSF and the Ministry of Finance would be responsible for investment.

On October 4, 2019, President Yoweri Museveni wrote to the Speaker of Parliament Rebecca Kadaga objecting to a provision that the Ministry of Finance will oversee financial matters of the fund while the Ministry of Gender will handle policy issues. The President advised that the split oversight mandate would cause delays in decision making and create loopholes for corruption.

This guidance caused dismay among a number of MPs who insisted that the president had been misled and that he should be ignored. MPs Sam Lyomoki and Charles Bakabulindi insisted that it was improper to follow a directive from a letter that had not been laid in Parliament or referred to the committee by the speaker.

This he said would be highly irregular since the principle decision of Cabinet was to name the Gender ministry as the line ministry. He was supported by the Chairperson of the Gender committee Alex Ndeezi and Bugabula South MP Henry Kibalya.

Lyomoki says that the Ministry of Finance has an ulterior motive and agenda by plotting to hijack a mandate which is the labour ministry’s purview.

Mr. Owere asserts that if the Fund is managed by both Ministries of Finance and Gender, each ministry would handle their own components of the Fund (NSSF). “The Ministry of Finance can manage the finance and investment bit of the fund and while ministry Gender the social component,” he explains.

Mr. Owere warns that if Parliament passes the NSSF Amendment Bill, 2019, contrary to the guidance by the President and in protection of workers’ interests, then workers’ money would be at a risk.

“NSSF is such an important institution in the economy and once managed or supervised by two or three agencies will create a stalemate in decisions and, therefore, create supervisory loopholes,” State minister for Finance (General Duties) Gabriel Ajedra told a joint sitting of the Parliamentary Committees on Finance and Gender that splitting the oversight of the Fund would put savers’ monies at risk.

Presenting the Finance ministry’s views on the proposed NSSF Amendment Bill, 2019, he argued that his ministry is responsible for formulating financial policies in the economy and overseeing their implementation and should, therefore, supervise the Fund.

Mr Gabriel Ajedra, said NSSF shall continue to be managed by the Ministry of Finance despite demands from various workers’ organizations opposing the government position. Mr Ajedra said the President in his wisdom, guided that the Fund should remain under the Ministry of Finance.

In its current form, the Bill gives oversight to the two ministries, a position Gender minister Janat Mukwaya wants maintained. She proposes that Finance has responsibility for creating checks and balances in determining borrowing from the Fund and interest payable to savers, while Gender remains responsible for social protection policies.

Below is the NOTU/COFTU petition to President Yoweri Museveni:

Duo management of NSSF is the best option, Workers petition President Museveni
Duo management of NSSF is the best option, Workers petition President Museveni
Duo management of NSSF is the best option, Workers petition President Museveni

Read Also: Presidential directive on NSSF supervision stirs disagreement in Parliament

Duo management of NSSF is the best option, Workers petition President Museveni
Duo management of NSSF is the best option, Workers petition President Museveni
Duo management of NSSF is the best option, Workers petition President Museveni
Duo management of NSSF is the best option, Workers petition President Museveni

The disagreement on which government ministry should supervise/manage the Fund comes at a time when NSSF is facing pressure to release the money to savers whose livelihoods were interrupted by the government measures to control the spread of coronavirus disease. These include employees whose employment was terminated as businesses closed with the lockdown.

The National Social Security Fund (NSSF) is the largest pension fund across the East African Community with assets worth over 10 trillion Shillings invested in Fixed Income, Equities and Real Estate assets in Uganda, Kenya, Tanzania and Rwanda.

  • Central Organization of Free Trade Unions - Uganda (COFTU)
  • Ministry of Finance
  • Ministry of Finance and Economic Planning
  • Ministry of Gender Labour and Social Development
  • National Organization of Trade Unions (NOTU)
  • National Social Security Fund (NSSF)
  • News
  • NSSF
  • NSSF Amendment Bill
  • NSSF Supervision
  • Parliament of Uganda
  • Presidential Directive
  • Rebecca Kadaga
  • Usher Wilson Owere
  • Yoweri Museveni

Related Articles

I remember faces of my tormentors - MP Francis Zaake
News

I remember the faces of my tormentors – MP Francis Zaake

October 22, 2018 1

Wakiso, Uganda | URN | The Mityana Municipality Member of Parliament, Francis Zaake says he …..READ MORE

Uganda police hunt for businessman Ssonko over worker’s death
News

12-year-old girl commits suicide in Nansana

June 30, 2020 0

Wakiso, Uganda | URN | Police in Nansana Municipality in Wakiso district are investigating circumstances …..READ MORE

Med Kaggwa succumbed to hypertension – Medical report
News

Med Kaggwa succumbed to hypertension – Medical report

November 21, 2019 2

Kampala, Uganda | URN | Case Medical centre said that the Uganda Human Rights Commission …..READ MORE




Follow Us on

  • Facebook
  • Twitter
  • LinkedIn
  • Feed
  • Instagram
  • Youtube

Like Our Facebook Page

News in Pictures

  • Ugandan MPs recommend fact finding mission to middle east countries
  • Uganda Police Spokesperson, Fred Enanga
  • edith-nakalema
  • 11-year-old boy defiled by woman
  • US Senator Bob Menendez
  • Ugandans getting free heart surgery in Sudan
  • Gov’t to clear more Ugandans to return home
  • Uganda Airlines prospective travelers can now book flights online
  • Bukoto-Kisaasi road accident

Popular Posts

  • Interview with Photographer Jonathan Makori

    Interview with Photographer Jonathan Makori

    February 9, 2018 12
  • President Yoweri Museveni warns ugandans

    Do not blame me for any COVID-19 deaths – Museveni cautions Ugandans

    June 9, 2020 12
  • Ugandan socialite Bad Black cautions sex workers amidst COVID-19 imported cases

    Ugandan socialite Bad Black cautions sex workers amidst COVID-19 imported cases

    May 1, 2020 11
  • Bobi Wine arrested in Luuka

    Bobi Wine arrest sparks off sporadic protests in Kampala, Masaka, Hoima

    November 18, 2020 11
  • Neid Cate may not be a household name in Kenya's music industry, but she has been featured in several reggae riddims with Jamaican artists like Busy Signal, Burning Faya, Militant Degree and others. File Photo.

    Interview with Kenya’s rising music star Neid Cate

    February 17, 2017 9

NMS PUBLIC NOTICE

NMS PUBLIC NOTICE

Latest News
  • Sodo Aine Kaguta

    President Museveni’s brother Sodo throws in the towel in Mawogola North race

    January 13, 2021 0
  • fuel-truck

    Fuel, sand trucks banned from accessing Kampala during elections

    January 13, 2021 0
  • President Museveni address 2021

    Museveni calls for massive voter turnout, vigilance ahead of 2021 polls

    January 13, 2021 0
  • opposition-presidential-candidates-kyagulanyi-amuriat-muntu

    Kyagulanyi, Amuriat and Gen Muntu agree on joint vote protection

    January 12, 2021 2
Follow Us on Twitter
Tweets by @dispatchug
Kampala Dispatch Magazine

 

 

PUBLISHERS
The Kampala Dispatch
P.O.Box 27258 Kampala, Uganda
Tel: +256 393 299066 / +256 772 622850
Email: info@dispatch.ug

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

Copyright © 2021 Kampala Dispatch. All Rights Reserved. Designed by Node Six Ltd

We use cookies on this website to personalize content, tailor targeted ads, provide social media features, and analyze our traffic metrics to optimize your browsing experience. By continuing to use this site, you consent to use of cookies in accordance with our Privacy Policy.AcceptLearn More...