Aim for financial independence, as you mark Independence Day
Aim for financial independence, as you mark Independence Day As we celebrate our 59th National Independence anniversary, it is a good time to reflect on our individual financial independence. Robin and Dominguez in their book Your Money or Your Life, define financial independence as the status of having enough income to pay one’s living expenses for the rest of one’s life without having […]
RISK BASED SUPERVISION
RISK BASED SUPERVISION URBRA, since commencement, utilised the Compliance Based Supervisory model, which emphasised strict compliance to the legal provisions. To complement the compliance-based sector supervision, URBRA has adopted a risk-based approach to sector supervision, with a view to identifying potential risks and managing them before they manifest. The risk-based supervision approach moves away from […]
URBRA develops regulations enabling members to use their savings for housing loans and mortgages
Members of retirement benefits schemes can look forward to apportioning up to 50% of their savings for a mortgage or a loan to purchase a residential house. This follows URBRA’s development of enabling regulations which now await the Minister’s signature so that they become law upon publication in the Gazette. For a long time, savers […]
Retirement Benefits Sector grows to 17 Trillion, 11.1% OF Gross Domestic Product
The Minister of Finance, Planning and Economic Development, Honourable Matia Kasaija has lauded the Retirement Benefits Sector as key to Uganda’s economy because of the sector’s ability to mobilise national savings and enhance population productivity and wellbeing. The Minister was releasing the 2020 Annual Sector Performance Report of the Retirement Benefits Sector at the Uganda […]
Retirement Benefits Sector Performance, 2020
1) IntroductionThe Sector delivered a solid performance for 2020 in terms of both its operational and financial results despite the COVID-19 pandemic and related restrictions on economic activity. Total assets of the Sector increased by 16.4 per cent during the year 2020 from UGX. 13.2 trillion in 2019 to UGX.15.4 trillion, accounting for 11.1% of […]
Information is a key ingredient for proper retirement planning
Anybody wishing to retire to a comfortable and enjoyable old age must think and plan for quite a number of things: where they will live, how they will access healthcare, the company they will keep, and most importantly, whether the funds saved for retirement can last its duration. However, all such planning cannot be realized […]
A Tribute to Mr. Everest Kayondo
THE RETIREMENT BENEFITS SECTOR LOST A DEDICATED AMBASSADOR The Covid19 pandemic continues to wreak havoc in Uganda, with 83,636 cases reported, and as of 05th July, 1,939 deaths. It is especially hard-hitting when you start putting faces and names to the statistics. For the Uganda Retirement Benefits Regulatory Authority (URBRA), Covid19 on 23rd June 2021 […]
A safe and secure retirement requires cash-flow and healthcare
There are many people who work hard all their lives but are still afflicted by poverty upon retirement. They invest in a wide range of seemingly productive projects, which in reality do not guarantee the much-needed cash flow in retirement. If we continue with business as usual, we shall witness the emergence of “The New […]
On the eve of retirement: What pre-retirees need to know
An article written by Lydia Mirembe, Manager Corporate and Public Affairs, URBRA. A few years ago, I watched a TV news item about an old woman who was receiving relief items from a group of journalists. It was a wet, cold day in the middle of a rainy season. Her mud-and-wattle house was drenched in […]
On the eve of retirement: What pre-retirees need to know
An article written by Lydia Mirembe, Manager Corporate and Public Affairs, URBRA. A few years ago, I watched a TV news item about an old woman who was receiving relief items from a group of journalists. It was a wet, cold day in the middle of a rainy season. Her mud-and-wattle house was drenched in […]