Understanding the Pensions in Uganda

 

Written By: Rosemary N. Ssenabulya- URBRA Board Member & the Executive Director of Federation of Uganda Employers 
Published in the New Vision on 23rd/10/ 2017 

Many people usually talk about the pensions for the private sector. What we currently have in the private sector is a provident fund system and not a pension system.

This means that a person who is contributing towards their retirement is paid a lump sum at the time of their retirement so that it  is  their responsibility to manage the money in a manner that ensures  that they will continue to have the same quality of life as long as they live. An example of a provident fund is theNational Social Security Fund (NSSF).

However, we also have a pension system which is run by the Government and it is non-contributory, implying that no deductions are made from the salary of workers in public service…..

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