Newslex Point News in Uganda, Uganda news
The Ministry of Labour has written to president Museveni concerning the National Social Security Fund also called the NSSF Bill. The Ministry seeks, among other things, to grant members mid-term access to their savings
According to Frank Mugabi, the Ministry’s spokesperson, the ministry wrote to the president about the changes that they agreed upon in the previous meeting.
On Tuesday, he said the ministry is also waiting for the president to communicate the agreed amendments to parliament.
‘’As the ministry of gender, we have done our part. After the team met the president, we made the necessary changes, as had been agreed upon by the stakeholders. We submitted the contents back to the Office of the President who is supposed to write a cover letter and send it back to parliament,’’ Mugabi said.
Stakeholders who include the workers’ representative, NSSF, the gender and finance ministries, met with the president last month. They resolved on changing some of the clauses on the bill.
They agreed that they should allow workers mid-term access of 20% of their savings. This however has a condition where the worker has to be at least 45 years old and they have saved for at least 10 years with the fund.
The president and the stakeholders agreed to drop the earlier clause in the bill. This means NSSF savers below the age of 45 years are not eligible to access their mid-term savings.
After the meeting, the president immediately ordered the Attorney General Kiwanuka to work on the agreed changes. This would enable the returning of the NSSF Bill to parliament.
Check Also;
- NSSF Closes 6 Branches After Losing 100,000 Savers
- Matia Kasaija Appoints New NSSF Board Members
- Informal Sector: Government Planning Pension Scheme For Self-employed
Please use the button below to contribute to Newslex Point, Inc. using a credit card or via PayPal.
