fbpx
  • Entertainment
  • Interviews
  • Supplements
  • Jobs & Tenders
  • Uganda Votes
  • Facebook
  • Twitter
  • LinkedIn
  • Feed
  • Instagram
  • Youtube
Kampala-Dispatch-Logo.png

  • Home
  • News
  • Politics
  • Business
  • Culture & Lifestyle
  • Technology
  • Opinions
  • Sports & Health
  • Travel
Latest News
  • [ July 6, 2022 ] Irate SGA security guard shoots lover dead, attempts to commit suicide News
  • [ July 6, 2022 ] Despite heightened security, Karamojong warriors steal Museveni’s goats News
  • [ July 6, 2022 ] Ugandan officials clash over Muhoozi’s invitation to border re-opening party News
  • [ July 6, 2022 ] Uganda has 90 fully licensed driving schools, transport ministry reveals News
  • [ July 6, 2022 ] Uganda govt to give out 13kg gas cylinders to 1 million households News
HomeNewsMP appeals to President Museveni not to assent to NSSF Bill

MP appeals to President Museveni not to assent to NSSF Bill

March 12, 2021 News 2

MP appeals to President Museveni not to assent to NSSF Bill
The National Social Security Fund (NSSF) Amendment Bill 2019 now awaits assent by President Yoweri Museveni before it becomes law.

Kampala, Uganda | URN | Patrick Isiagi Opolot, the Kachumbala County Member of Parliament has implored the boss of Uganda Retirement Benefits Regulatory Authority (URBRA) to convince President Museveni not to assent to the recently passed National Social Security Fund (NSSF) Amendment Bill 2019.

This comes a month after Parliament passed the controversial National Social Security Fund (NSSF) bill, which provides for midterm access to members.

The NSSF Bill now awaits assent by President Yoweri Museveni before it becomes law.

According to the amendments, members who have clocked 45 years or have contributed to the fund for a period of ten years will be eligible to 20 percent of their savings.

However, Isiagi argues that the clauses allowing mid-term access were included in the bill due to populist demands that are detrimental to the prosperity of the fund.

Isiagi who doubles as the vice-chairperson of the Budget Committee of Parliament was speaking in a meeting where the finance committee of parliament was interfacing with URBRA officials led by the Chief Executive Officer Martin Anthony Nsubuga.

He claimed that this kind of access creates uncertainty since the fund will need to keep funds lying idle to pay beneficiaries.

Isiagi beseeched Nsubuga to advise the president not to assent to the NSSF Bill.

The Koboko North MP Elias Asiku and the Apac Municipality MP Patrick Ochan asked Nsubuga to explain how the Authority will manage public expectations if the president refuses to assent to the bill.

Read Also: NSSF, Finance Ministry sabotaging midterm access – Lyomoki

Nsubuga agreed that the funds are invested in long term assets and accessing them has to come at a cost, saying there is a need for clear regulations on who will bear the cost.

He revealed that 76% of the funds are invested in government securities and 12% in equities.

He asserts that there is a need to clearly lay out regulations on how and when access to funds is approved. Nsubuga believes implementing the law as it is will be impossible.

  • National Social Security Fund (NSSF)
  • NSSF
  • NSSF Amendment Bill
  • Patrick Isiagi Opolot
  • Uganda Retirements Benefits Regulatory Authority (URBRA)
  • Yoweri Museveni

Related Articles

Police officers clear debris from the road
News

President Museveni’s convoy interrupted as opposition FDC supporters burn tyres

November 3, 2020 0

Kampala, Uganda |URN | President Yoweri Museveni’s convoy was briefly interrupted on November 3rd, as …..READ MORE

Ugandan MPs seek answers on boda boda, mobile money murders
Sports & Health

MPS want employed Ugandans to pay for COVID-19 vaccine

February 5, 2021 0

Kampala, Uganda | URN | Members of the Health Committee of Parliament want financially stable Ugandans …..READ MORE

Museveni eulogizes former Kenya president Daniel Arap Moi as true African
News

Museveni eulogizes former Kenya president Daniel Arap Moi as true African

February 5, 2020 0

Kampala, Uganda | URN | President Yoweri Kaguta Museveni has expressed his sadness over the …..READ MORE




Follow Us On:

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

Follow Our Facebook Page

News in Pictures

  • Cleric criticizes Museveni over 'eat cassava if bread is expensive' remarks
  • Ugandan police patrol at night to enforce curfew during height of the lockdown
  • Ibrahim Damba handcuffed on his hospital bed
  • US embassy pulls plug on allowances to Ugandan govt officials
  • Bobi Wine withdraws election petition citing bias
  • President Museveni eases Uganda COVID-19 lockdown restrictions
  • Stop being reactionary - MP Kyagulanyi to Ugandan security
  • The Managing Director of the National Social Security Fund (NSSF), Richard Byarugaba
  • Tanzania to buy sugar, ARVs from Uganda

Popular Posts

  • Uganda govt to give out 13kg gas cylinders to 1 million households
    Uganda govt to give out 13kg gas cylinders to 1 million households

  • Ugandan officials clash over Muhoozi's invitation to border re-opening party
    Ugandan officials clash over Muhoozi’s invitation to border re-opening party

  • A girl who loves you will be shy to ask you for money – Lady tells off men
    A girl who loves you will be shy to ask you for money – Lady tells off men

  • Sex and the Ugandan woman
    Sex and the Ugandan woman

  • Ugandan government urged to streamline e-passport use
    Ugandan passport application process marred by bribery claims

Latest News
  • Irate SGA security guard shoots lover dead, attempts to commit suicide

    July 6, 2022 0
  • Despite heightened security, Karamojong warriors steal Museveni's goats

    Despite heightened security, Karamojong warriors steal Museveni’s goats

    July 6, 2022 0
  • Ugandan officials clash over Muhoozi's invitation to border re-opening party

    Ugandan officials clash over Muhoozi’s invitation to border re-opening party

    July 6, 2022 0
  • Uganda has 90 fully licensed driving schools, transport ministry reveals

    Uganda has 90 fully licensed driving schools, transport ministry reveals

    July 6, 2022 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: [email protected]

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy
  • Terms of Use

Copyright © 2022 Kampala Dispatch. All Rights Reserved.