Kadaga on the commissioning of the NSSF City House in Jinja

The NSSF Act provides that  a member of the Fund shall be entitled to age benefit if he or she attains the age of 50 years and has retired from regular employment; or if he or she attains the age of 55 years. It also provides that a member of the Fund may be treated as having retired from regular employment when he or she attains the age of 50 years, or if he or she is not in gainful occupation.
The Speaker revealed that she had received complaints from numerous people who lose employment before the age 50 but cannot access their savings for personal needs.  
“Mr. Byarugaba, you know how many letters I have written to you from people who are sick but cannot get their savings for treatment simply because they are not yet 50,” Kadaga said addressing the Executive Director of NSSF.
Kadaga made these remarks at the Commissioning of the NSSF City House in Jinja on Thursday, 28 June 2018.

Hon Paul Mwiru (Jinja East) also re-echoed the plight of Ugandans on access to NSSF savings saying, “many Ugandans who have lost jobs have issues with the scheme.  I request for a provision where someone who loses a job is able to access at least 30 percent of their savings as they look for another job”.
Chairman Board of Directors, NSSF, Patrick Kaberenge said the proposed revisions in the NSSF Act will largely benefit clients and requested Kadaga to use her position and expedite the amendment of the NSFF Act and procurement law.
The Speaker said that Parliament is going to focus on legislation in the First sitting of the Third session where that Act when presented for amendment by the Executive would be considered.

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Francis Gimara, the President Law Society of Uganda

Lawyers, Insurance companies, Human Resource Managers, Insurance Brokers and the Actuarial Association of Uganda have opposed a move by Ministry of Finance to withdraw the Pension Reform Retirement Benefits Sector Liberation Bill 2011 from Parliament, saying that the reforms will increase domestic savings and enhance investments.

Addressing a press conference this week in Kampala, the managers of these organizations led by Gimara Francis, President Uganda Law Society, say that the ministry should allow reforms in the pension sector so that workers can save their money with the scheme of their choice.

He wonders the motive behind with drawing of the bill yet the committee of finance has gathered sufficient views to make a report to Parliament.

The bill seeks to leave 19% savings with National Social Security Fund and the 5%savings will go to other private players.

The same bill was withdrawn from Parliament in 2014 by Government on claims that it had duplicated issues in the disputed law.

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The National Social Security Fund (NSSF) has earmarked on a 14.5 billion shillings project to construct 40 housing units in Mbuya, Kampala suburb. The Managing Director National social security Fund Richard Byarugaba says, the money is part of the 480 billion shillings which the fund is set to invest in Real Estate development projects in Uganda.

Byarugaba said that  the 40 apartments will be constructed on 3 acres of land located in Mbuya and the construction will be completed within a period of  24 Months. He said that  the construction of the housing units will be sold  out to the community and, its projected that the Fund will earn a return in profits totaling to 20% on the Fund investments. He said that this estate will give Kampala a face lift and provide highclass house units to residents.

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Kyayonka Ivan is dead

Darkness has befallen again, Ivan Kyayonka is dead. Kyayonka breathed his last at Nairobi Hospital in Kenya on Friday 8th May 2015 where he had been admitted.

He has been serving as the board chairman of National Social Security Fund (NSSF).

Kyayonka was appointed to this position on 1^st  June 2012 for a three year’s contract.

At the time of his death, Kyayonka had transformed NSSF to a level that is admirable.

His efforts  saw NSSF’s Total Assets grow by 61 percent from Ushs 1.6 trillion in June of 2012 to Ushs 4.5 trillion in June 2014.

In the same period, contributions grew by 34 percent from Ushs 162.8 billion to Ushs 635.7 billion while interest rates grew from 10% to 11.5%. Benefits paid out to members also grew by 64% from Ushs 64.5 million to Ushs 165.9 billion.

Besides NSSF, he also served as the Country Chairman of Shell Uganda; a company he joined in 1982 after graduating as an Engineer.

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The report implicates the former finance minister Gerald Sendaula, the Board Chairman Ivan Kyayonka, Deputy Executive Director NSSF Geraldine Sali, and Former Minister of Finance Maria Mutagamba among others in the mismanagement of the fund.

The Committee recommended that former Finance minister be held responsible for loss of UGX500M spent on recruitment in NSSF whose results were largely ignored.

The report also recommended that NSSF MD Richard Byarugaba, Board chairman Ivan Kyayonka be compelled to refund the loss incurred of 56 Million Shillings of Namirembe Land purchased below cost price.

The report was presented on the floor of parliament by Kiboga Woman MP Anna Maria Nankabirwa a member of the committee.

NSSF currently has a membership of about 1,319,345 although out the total membership, only 578,000 are active.

Every month NSSF receives between UGX 50 and 60 Billions in form of contributions from the members. AS of June 2014, NSSF was worth 4.34 Trillion.

Parliament will discuss report during the week that starts on Sunday 22^nd March 2015.

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Officials from the national standards body say the delay in government guarantee has caused them higher costs of hiring office space in different parts of the country.

The officials lead by the Executive director Dr. Terry Kahuma told the members of parliament on trade and industry committee that some of the costs have been out going towards rent of the five different places within the city centre.

Uganda national bureau of standards finance and administration manager, Davis Ampwera told the MPs that following the acceptance of the loan request from the NSSF all they now awaits is government guarantee.

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Jamwa now faces the possibility of a 14 years sentence or fine of 6.7 million shillings or both, but he will be a happier man given that he was acquitted of the major charge.

David Jamwa Chandi after arrest

Justice John Bosco Katutsi of the Anti Corruption Court who has been presiding of the trial of Jamwa’s case, found the former manager guilty of selling NSS bonds before the maturity date.

Katutsi said that Jamwa is a man well schooled in investment in treasury bonds, and to say that he was not aware that his actions would result into loss to NSSF would be to underestimate his intelligence.

The Judge however acquitted Jamwa of abuse of office. Katusi said prosecution failed to prove beyond reasonable doubt that Jamwa did an arbitrary act which was prejudicial to the interest of the Fund when he gave Crane Bank the mandate to sell NSSF’s bonds.

He ruled that the bonds were sold through a process which was approved by then Minister of Finance Dr. Ezra Suruma who agreed the bonds be sold in order to work on the new proposal to increase the yield of the Fund.

“From their evidence for one to turn round and say the accused person acted arbitrary would be a terrible assault of common sense. I would with respect and in agreement with assessors find accused person not guilty on this count and acquit him,” the Judge said.

Sydney Asubo, the prosecutor from the the Inspector General of Government (IGG) told Court that between September and November 2007 Jamwa caused a financial loss of 13 billion shillings to NSSF by selling bonds before their maturity.

Jamwa was sent to prison until March 9 when he re-appears in Court for sentencing.

Ultimate Media

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Richard Byarugaba, NSSF Managing Director

The National Social Security Fund (NSSF) has encouraged every employee in Uganda to spy and report every NSSF registered  organizations which do not submit funds they collect from their employees.

The NSSF managing Director, Richard Byarugaba told reporters at Workers House the NSSF is ready to offer 100, 000 (one hundred thousand shillings0 to whoever gives valid information on companies that default on payment of NSSF remittances.

He said a recent NSSF audit had revealed that out of 9000 registered employers, only about 4700 remit their collections to NSSF, currently the only body that collects private sector workers’ social security savings.

The NSSF Act requires every employer to deduct 5& of every employers salary and another 10% to contribute 15% of every worker’s salary as social security saving for each employee.

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Ssemwogerere Mulwanyamuli

The National Social Security Fund has spoken out on the arrest of the former Katikiro of Buganda Mulwanyamuli Ssemwogerere and has denied allegations that the intended arrest of the former Buganda Katikiro is politically instigated and a form of witch hunting Ssemwogerere.

Ssemwogerere surprised many Ugandans last month when he publically declared that he has joined the Inter Party Co-operation the biggest Opposition Political Party grouping at the moment in Uganda.

The police on Wednesday searched Semwogerere’s hotel and home in bid to have him arrested for allegedly failing to register employees of his hotel with NSSF as stipulated in the law but has since then accused government of trying to witch hunt him for joining the Inter Party Cooperation.

The Deputy Chief Marketing and Communications Officer of NSSF, Olive Birungi Lumonya says that it is not true that Ssemwogerere was arrested for political reasons because at the moment, NSSF is handling about 148 similar case in various parts of the country.

According to the NSSF ACT, for a hotel to get registered in NSSF it must have a minimum number of five workers.

By Zacharia Tiberindwa, Ultimate Media

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Prof. Mondo Kagonyera before the committe (NV photo)

The deal was first advertised as car leasing by NSSF to hire purchase after it was awarded to Nissan but the NSSF went on to conduct an outright purchase without re- advertising the deal.

Kagonyera has told the Parliamentary Committee on Commissions of Statutory Authorities and State Enterprises that it is true the procurement procedures were flouted  but it was the heads of the Procumbent departments and that of the Contracts committee that were responsible for this financial irregularity. He says it was not the role of the top management to interfere in such financial transactions even when flawed.

This follows a presentation by Edgar Agaba, the Executive Director of the Public Procurement and Disposal of Assets who blamed the two former NSSF bosses Kangonyera and boss David Chandi Jamwa for flouting several procurement procedures and guidelines.

But Kagonyera who is also the current Chancellor of Makerere University says the role of ensuring that procurement procedures should have been followed in the purchase of the cars lay with the Internal Auditor of NSSF.

Kagonyera says top management was not even allowed to interfere in the financial transactions of the Contracts committee and which curtailed their ability to stop the car deal even when in the purchase of cars the right procurement procedures were flouted.

There is an investigation in this committee in relation to the forensic report of 2005- 2008 on NSSF of the Auditor General which implicates a number of former NSSF officials.

By Ultimate Media

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