{UAH} Thank You Mr. Chairman - Peoples Saving into Private Hands

So in your view, how would you love NSSF to play out in the new environment having other players?

Given my experience both as NSSF Board Chairman and as a CEO in Uganda, my recommendation is that we should preserve NSSF as a national mandatory scheme that will retain a minimum 10 per cent mandatory contribution. As a national scheme, the Fund would have other mandates to promote the sector including: coverage, security, and innovations, without necessarily focusing on only returns. This is the global practice in Kenya, Tanzania, Rwanda, and other countries such as Ghana, Malaysia, Canada, USA, and Singapore.

Members can then place the other 5 per cent in other schemes of their choice and this can be reviewed in say five years with a view of assessing whether another mandatory scheme can be allowed into play. At the same time, governance over NSSF should be strengthened. As already expressed by other stakeholders, the NSSF Act should be amended to remove governance bottlenecks that delay investment decisions. The NSSF Act should also be amended to allow NSSF reach out to the informal sector and employers with less than five employees as well as provide additional benefits to members that complement retirement.

Ugandans are very interesting people- who is not going to age - so save your money with Bwanika Saving (Pyt) registered in Bamuda Islands!!

http://www.monitor.co.ug/SpecialReports/NSSF-not-opposed-to-pension-reforms-but-let-them-be-sensible/-/688342/2367204/-/item/1/-/mkokt5/-/index.html

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Bwanika Nakyesawa Luwero

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