WHO WE ARE
URBRA is an autonomous body established by virtue of section 2 of the Uganda Retirement Benefits Regulatory Authority Act 2011, Act No. 15 of 2011. It is responsible for regulating the establishment, management and operation of retirement benefits schemes in Uganda in both the private and public sectors. The Authority is responsible for supervising institutions which provide retirement benefits products and services. URBRA is an oversight body and NOT a Retirement Benefits Scheme.
The primary strategic objectives of establishing URBRA and a strong supervisory framework include: -
- Protection of funds, pension members and beneficiaries’ interest by promoting transparency and accountability;
- Ensuring the stability and integrity of the financial sector through the stability and security of pension funds;
- Ensuring sustainability of the pension sector as a whole and encouragement of pension provision with a view to promoting long term capital development;
- Finally, setting the foundation for the gradual liberalization of the sector.
Mandate of the Authority
The Authority is responsible for the implementation of the URBRA Act, its functions among others include:
- Regulating the establishment, management and operation of retirement benefits schemes in Uganda in both the private and public sectors;
- Supervision of institutions which provide retirement benefits products and services;
- Promoting the development of the retirement benefits sector;
- Licensing of retirement benefits schemes; and
- Licensing of service providers including: - Trustees, Administrators, Fund Managers and Custodians of Retirement Benefits Schemes.