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Uganda Retirement Benefits Regulatory Authority (URBRA) is a statutory body established in 2011 under the URBRA Act 2011. The Authority has the overall mandate of supervising, regulating the establishment, management and operation of retirement benefits schemes and protecting the interests of members and beneficiaries of retirement benefits schemes in Uganda.

A vibrant, secure and sustainable Retirement Benefits System.

To regulate, supervise and promote the development of a stable and effective Retirement Benefits Sector.

  1. Professionalism
  2. Integrity
  3. Transparency
  4. Innovativeness

The pensions sector is one of the key non-banking financial sectors that is a source for long term finance for investment. It is a long term savings vehicle that permits the population to provide for old age retirement among others and a safety net in general against a variety of unforeseen future consumption requirements. Currently, the pension sector in Uganda is composed of; the Public Service Pension Scheme, which is a Government scheme catering for the pensions of civil servants; the National Social Security Funds, which receives mandatory pension contributions from all private sector employers with five or more staff, and their employees; and a number of occupational pension schemes to which various large employers and their employees make additional contributions, over and above the NSSF mandatory contribution.

The primary strategic objectives of establishing a Retirement Regulatory Authority & a strong supervisory framework include:-

  • 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.

The Uganda Retirement Benefits Regulatory Authority (URBRA) is established by the virtue of section 2 of the Uganda Retirement Benefits Regulatory Authority Act 2011, No. 15 of 2011. It is an autonomous body responsible for regulating establishment, management and operation of retirement benefits schemes in Uganda in both private and public sectors. The Authority is responsible for supervising institutions which provide retirement benefit products and services.

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 the retirement benefits schemes;
  • Licensing of custodians, trustees, administrators and fund managers of retirement benefits schemes.

Section 6 of the URBRA Act 2011 states that, for the purpose of carrying out its objectives, the Authority may exercise, perform and discharge any of the following powers:-

  • Control, supervise and administer the assets of the Authority in such a manner and for such purposes that promote the purpose for which the Authority was established;
  • Conduct any investigation or inquiry relevant to the retirement benefits industry in Uganda;
  • Conduct any inspection and examination of books of accounts, records, returns and any document or premises of a licensed person or scheme;
  • Issue guidelines, directives or instructions to any licensed person for the proper management of a retirement benefits scheme;
  • Search the premises of any licensed person in accordance with this Act;
  • Delegate any of its powers other than the powers of revocation, licensing, delegation or variation of such delegation; and
  • Do such other things to ensure efficiency in the management of retirement benefits schemes.