The Uganda Retirement Benefits Regulatory Authority (URBRA) convened its Annual Service Providers’ Supervisory Engagements from 30th June to 2nd July 2026, bringing together Scheme Administrators, Corporate Trustees, Fund Managers and Custodians.
The engagements are aimed at strengthening URBRA’s collaboration with supervised entities towards advancing a resilient, transparent and member-focused retirement benefits sector. It provides a platform for dialogue on emerging supervisory priorities, regulatory reforms and technological innovations aimed at enhancing governance, risk management and service delivery across Uganda’s retirement benefits industry.
Opening the engagement, URBRA Chief Executive Officer, Mr. Martin Anthony Nsubuga, commended service providers for their continued partnership in safeguarding members’ retirement savings and reinforcing confidence in the sector. He noted that the retirement benefits industry continued to register remarkable growth, with assets under management reaching UGX 35.6 trillion as of March 2026, 4.06 million active savers, and retirement savings equivalent to 13.6% of Uganda’s GDP.
“As the sector grows and becomes increasingly sophisticated, supervision must also evolve. We must move beyond compliance as a checklist and embrace a supervisory approach that is forward-looking, risk-sensitive, technology-enabled and centred on protecting members’ retirement savings,” he said.
The CEO highlighted the transformative role of the URBRA Bridge, the Authority’s Electronic Risk-Based Supervision System (ERBSS), which was launched in November 2023 to strengthen supervisory effectiveness while reducing regulatory burden through digital reporting, business process automation and advanced risk analytics.
The Chief Manager- Supervision and Market Conduct, Ms. Daisy Nabakooza applauded the project team for the excellency exhibited and dedication on ensuring the Bridge is perfect for all users. She explained that the system enables URBRA to identify emerging risks earlier, improve data quality, allocate supervisory resources more efficiently and promote proactive risk management across the retirement benefits sector.
URBRA presented improvements and modifications to the enhanced URBRA Bridge System (Version 2.0) representing its continued transformation on how to regulate and supervise the sector, with increased system validations aimed at improving data quality and ultimately accuracy in reporting. Participants received demonstrations of the latest upgrades to the URBRA Bridge, including enhancements to account creation, licensing applications and renewals, ad-hoc submissions, online complaints management, onsite inspection processes and the returns submission module. The sessions were designed to equip service providers with practical introductory knowledge on the system enhancements to improve regulatory reporting and compliance.
The Authority continues its move off manual information as all collaborations are intended to be online. The enhancements will ensure that the system flags any errors in submissions, and delays will be automatically identified resulting in implementation of the sanctions regime. Ms. Namono Salome- Supervision Officer- URBRA explained the impact of penalties of wrong data submissions and urged all system users to ensure correct data entries.
While recognizing the importance of technology, effective supervision ultimately depends on strong governance within supervised entities. Scheme Service Providers were encouraged to strengthen internal controls, operational resilience, cyber security, outsourcing oversight, and member service delivery to safeguard retirement savings and maintain public confidence.
The engagement also provided an opportunity for stakeholders to share experiences, discuss operational challenges, explore emerging industry trends and innovations, and identify areas where additional regulatory guidance was required. Some of the issues raised by Administrators included; the need for clarification on the support the Authority intends to provide to existing informal sector retirement benefit schemes, noting that many continue to face operational and financial challenges that affect their sustainability and growth; legal guidance on how to deal with death benefits; and tax related issues. URBRA reaffirmed its commitment to collaborative supervision that promotes continuous improvement while ensuring compliance with regulatory standards.
The annual engagement reflects URBRA’s continued commitment to building a modern, risk-based supervisory framework that supports sustainable sector growth, strengthens governance and enhances protection of members’ retirement benefits.
As the Authority continues to modernise supervision through digital innovation and stakeholder collaboration, engagements of this nature remain critical in fostering a safer, more efficient and resilient retirement benefits sector for all Ugandans.