• 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 19, 2021 ] Opposition team up in Kasese ahead of LC V, Mayoral elections Uganda Votes
  • [ January 19, 2021 ] Online businesses counting losses from Uganda’s 5-day total internet shutdown Business
  • [ January 19, 2021 ] Archbishop Stanley Ntagali suspended from priestly duties over adultery News
  • [ January 19, 2021 ] NUP party unmoved by Derrick Nyeko’s current position in NRM News
  • [ January 19, 2021 ] Bobi Wine, US demand independent audit into 2021 Ugandan election Uganda Votes
HomeNewsParliament of Uganda halts decision on NSSF midterm access to benefits

Parliament of Uganda halts decision on NSSF midterm access to benefits

September 17, 2020 News 0

Speaker Kadaga blames religious leaders for delaying Marriage Law
The Speaker of Parliament Rebecca Kadaga

Kampala, Uganda | URN| The Parliament of Uganda has halted its decision on the proposed midterm access to benefits by contributors to the National Social Security Fund (NSSF) after legislators failed to agree on the group of people and percentage that should be availed.

This followed a debate on a joint committee report comprising members from the Finance and Gender committees in parliament who recommended that members aged above 45 and have saved for at least 10 years be allowed to access their benefits.

This main report noted that the purpose of mid-term access was to provide for additional benefits and relief to members of the Fund before they reach the age prescribed by the law. Savings can only be accessed when a saver clocks 55, according to the current law.

The MPs also recommended that a person with a disability who lacks gainful employment or fails to generate income and is unable to make contributions to the Fund for a period of not less than one year should access up to 75 percent of their contributions upon application.

However in his minority report, Bulamogi County MP Kenneth Lubogo said that  members who lose their employment and remain unemployed for a period of not less than three years should also upon application be entitled to 40 percent of the balance on their account.

These conflicting recommendations were further complicated by a motion by Busongora North MP William Nzoghu who wanted government to allow all contributors access 20 percent of their savings with the Fund in light of the economic distress caused by the Covid-19 pandemic.

“Contributors should not die of hunger leaving their savings to the survivors. NSSF has 1.5 million members who contribute over 1.8 trillion in savings annually and the Fund has over 11.2 trillion in assets. Availing members with their savings will help lessen the negative impact of Covid-19 to over 1.5 million households,” he said.

Nzoghu said that it was prudent for government to consider an amendment to the NSSF Act granting contributors 20 percent payments and lessen hardships on the households.

Speaker Kadaga then guided that Nzoghu’s motion together with reports on the Bill would be debated and handled at the same time.

During the debate, Soroti Woman MP Angelline Osegge supported Nzoghu’s proposal saying that the first responsibility of the Fund is to the savers and not government. She said that the law should be amended to enable people access 20 percent of their money.

Rukungiri Woman MP Betty Bamukwatsa also weighed in saying that this was the time Ugandans need their contributions to help them during the difficult time occasioned by the COVID-19 pandemic.

On the other hand, Soroti County MP Kenneth Esiangu suggested that the money be structured in age brackets and access be based on how long a person has saved.

“We should let the people access between 20 and 30 percent, these payments won’t drain the Fund. Every member should get something to alleviate the current suffering,” he said.

But Worker’s MP Arinaitwe Rwakajara supported the main committee report saying that anyone who has saved for more than 10 years and is above 45 years should get at least 20 percent of their money.

He appealed to his colleagues not to only focus on Covid-19 pandemic alone but allow mid-term access to address many other issues which may come in the future.

After failing to agree on a common position for mid-term access, Speaker Kadaga stood over the decision allowing MPs to debate other clauses in the Bill.

First presented before Parliament in August 2019, the National Social Security Fund (NSSF) Amendment Bill, 2019 has generated controversy on issues regarding the mid-term access of funds, direct lending to government and whether the fund should revert to the Ministry of Gender.

But legislators also failed to agree with the Joint-Committee recommendation that the Fund should be supervised by both the Ministry of Finance and the Ministry of Gender, Labour and Social Development as advised by President Yoweri Museveni.

Despite pleas by the Minister of Gender Frank Tumwebaze and Minister of State for Planning David Bahati for the government position to be adopted, a section of MPs led by Dokolo Woman MP Cecilia Ogwal put up a protest saying that double accounting for funds could not be tolerated and also questioning why the Gender Ministry is not solely allowed to manage and supervise the Fund.

The Fund is currently managed by the Ministry of Finance despite its relation to the Labour Ministry. Kadaga also ruled that the decision on this matter is stood over so that the concerns are considered next week.

Read Also: Workers oppose COVID-19 testing fees without Minimum Wage

Meanwhile, Parliament agreed and rejected the proposed direct lending by the National Social Security Fund (NSSF) to the government. This followed the committee members recommendation that this was intended to avoid abuse of member’s funds and conflict of interest.

MPs observed that NSSF already lends to the government and other entities using instruments prescribed in the Uganda Retirement Benefits Regulatory Authority (URBRA) Act & Regulations including among others; Treasury Bills, Bonds and government securities.

The members added that direct lending would instead contravene section 68 of the URBRA Act, 2011 which prohibits direct lending which is not through securities sold on the open market.

  • National Social Security Fund (NSSF)
  • News
  • NSSF
  • NSSF Amendment Bill
  • Parliament of Uganda
  • Savings

Related Articles

Kabuleta Challenges 'Scientific' Electoral Process in Court
News

Uganda’s Electoral Commission dragged to court over ‘scientific elections’

June 19, 2020 1

Kampala, Uganda | URN | The Electoral Commission (EC) has been dragged to court for …..READ MORE

Uganda Women’s Network-UWONET
News

UWONET denies claims of financing terror in Uganda

December 13, 2020 0

Kampala, Uganda | URN | Uganda Women’s Network [UWONET] has dismissed as false claims by the …..READ MORE

Ugandan labour export firms propose new measures to curtail human trafficking
News

Ugandan labour export firms propose new measures to curtail human trafficking

November 10, 2019 2

Kampala, Uganda | URN | The new faction of foreign labour recruitment agencies in Uganda …..READ MORE




Follow Us on

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

Like Our Facebook Page

News in Pictures

  • HIV positive man arrested for defiling 4-year-old girl
  • Uganda police steps up COVID-19 night operations in Kampala
  • LDUs deployed in Bududa to enforce COVID-19 directives
  • Suspected German pedophile Bernhard Glaser Berry
  • Gov’t officials biggest land grabbers – Uganda Land Commission
  • NIRA-officials-at-work-in-Kololo
  • Makerere wins USD$1.3m grant from Google to monitor urban air quality
  • Bududa residents complain over delayed power connections
  • MPs Odonga Otto, Gilbert Olanya arrested for leading protest over rising COVID-19 cases

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
  • Winnie Kiiza

    Opposition team up in Kasese ahead of LC V, Mayoral elections

    January 19, 2021 0
  • internet shutdown

    Online businesses counting losses from Uganda’s 5-day total internet shutdown

    January 19, 2021 0
  • Stanley-Ntagali

    Archbishop Stanley Ntagali suspended from priestly duties over adultery

    January 19, 2021 0
  • Derrick-Nyeko

    NUP party unmoved by Derrick Nyeko’s current position in NRM

    January 19, 2021 0
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...