The NSSF pension sector should be managed well to avoid thefts

 

NSSF announced a monumental growth of member assets to Shs3 trillion as of November 2012 from Shs2.1 trillion in 2010/11 and an increase in member contributions from Shs24 billion per month to Shs50 billion per month.

It’s quite amazing and humbling that the management has the ability to grow the fund by 900 billion in such a short period of time.

NSSF’s astounding figures tell us a lot about the need for visionary and focused leadership in all institutions in Uganda and what everyone stands to benefit from getting rid of bad leadership.

Notwithstanding this growth and management changes, it is important the Shs3 trillion funds are well managed and operated in a profitable manner.

Right now, amassing savers contributions appears to be an easy job because of improved relations with clients and it is mandatory.

But with the opening up of the pension sector to other operators, somethings could change at NSSF. smart decisions should be made to keep the current members intact and to give better products, services and returns to the members who have contributed the Shs3 trillion over the last two decades.

The board and management should ensure that no evil hand is dipped into the Shs3 trillion as has been the case in the past.

Michael Patrick Odong,
mpatrickodong1@gmail.com