The Uganda Retirement Benefits Regulatory Authority (URBRA) message of sector inclusion, aiming to reach universal coverage of the retirement benefits sector. Zeroing in on the women, URBRA organized a webinar under the theme: “Leave no Woman Behind: Invest in Women to improve Retirement Planning and eradicate old-age poverty.” The webinar, held ahead of International Women’s Day, aimed to shed light on the specific needs and concerns of women regarding retirement planning and savings.
Ms. Marjorine Nantambi, a seasoned personal finance coach, was the keynote speaker, delivering insights into the challenges faced by women in retirement planning. The webinar delved into the nuances of retirement savings, highlighting the systemic disadvantages that women encounter throughout their careers and into their retirement years.
The rationale behind the webinar stemmed from a stark reality: women often start off at a disadvantage when it comes to retirement savings. Citing data from UBOS (2017), it was revealed that women are disproportionately represented in lower-paying jobs and spend a significant portion of their time on unpaid domestic work. Moreover, even within formal employment, women tend to gravitate towards less lucrative roles, thus impacting their ability to save for retirement effectively.
Through Ms. Nantambi’s presentation, attendees were equipped with essential insights and strategies to bolster their retirement preparedness. Key messages centered around the benefits of retirement planning, methods to ready oneself for retirement, and systematic approaches to long-term financial security.
The session also provided a platform for participants to pose pertinent questions, reflecting their eagerness to navigate the complexities of retirement planning. Queries ranged from alternative investment options to strategies for individuals without formal employment or savings. The interactive nature of the webinar fostered a collaborative environment where attendees could glean practical advice tailored to their unique circumstances.
The webinar succeeded in raising awareness about the importance of retirement planning among women and provided actionable steps for financial stability in later years. Participants left inspired and motivated to take concrete steps towards securing their financial futures.
Moving forward, participants expressed a desire for continued conversations targeting men, alongside more information on alternative investment options. The success of such targeted talks underscores the relevance and relatability of the topic to women across various demographics.