By Emojong Osere
and David Ssempijja
THE Government should speed up the liberalisation of the pensions sector to ease access to retirement benefits. The parliamentary public accounts committee chairman, Nandala Mafabi, said liberalising the industry would also improve the performance of the National Social Security Fund (NSSF).
The fund is mandated by the Government to provide social security services to salaried employees in the formal sector. “Due to the limited scope and problems facing NSSF, many Ugandans are calling for the liberalisation of the pension fund sector as a solution to some of the problems,†he said while addressing the annual banking, finance and insurance exhibition at the UMA show grounds main hall in Lugogo, Kampala recently.
“Uganda deserves a good social security and pensions systems. Liberalisation of the sector will increase coverage of the social sector system and create competition that will make NSSF improve its services and guarantee a good retirement package to employees,†Mafabi explained.
He added that opening up the sector would improve its regulation and provide long-term funds to boost the capital markets.
and David Ssempijja
THE Government should speed up the liberalisation of the pensions sector to ease access to retirement benefits. The parliamentary public accounts committee chairman, Nandala Mafabi, said liberalising the industry would also improve the performance of the National Social Security Fund (NSSF).
The fund is mandated by the Government to provide social security services to salaried employees in the formal sector. “Due to the limited scope and problems facing NSSF, many Ugandans are calling for the liberalisation of the pension fund sector as a solution to some of the problems,†he said while addressing the annual banking, finance and insurance exhibition at the UMA show grounds main hall in Lugogo, Kampala recently.
“Uganda deserves a good social security and pensions systems. Liberalisation of the sector will increase coverage of the social sector system and create competition that will make NSSF improve its services and guarantee a good retirement package to employees,†Mafabi explained.
He added that opening up the sector would improve its regulation and provide long-term funds to boost the capital markets.
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