Interview as published in The Daily Monitor on 26th July, 2018
By ISMAIL MUSA LADU
Workers’ contributions to several pension schemes in the country have grown to Shs10 trillion according to a survey conducted by the sector regulator. These contributions are growing both in terms of coverage and compliance levels.
According to the Annual Retirement Benefits Sector Report for 2017, the future of the country’s pension sector is not only healthy but also projected to grow further over the coming years.
“Sector coverage is now at 14 per cent compared to the six per cent in 2014. Assets also increased to Shs10.04 trillion in 2017 compared to Shs5.2 trillion in the last four years,” the acting chief executive officer, Uganda Retirement Benefits Regulatory Authority (URBRA), Mr Martin Anthony Nsubuga, said while presenting the sector report last week.
This means between 2014 and 2017, the number of Ugandans who were trying to safeguard their future after retirement through saving with different pension schemes in the country, is slowly but steadily growing.