The National Social Security Fund NSSF has been dragged to the High Court for allegedly refusing to give an incapacitated patient his savings contributions amounting to more than 11 million shillings.
Ofwono Andrews from Tororo district alleges that Mulago hospital declared him unfit to run his normal duties including working after he developed medical complications with his liver in 2015.
Ofwono further alleges that after being declared unfit to work he applied for his accumulated contributions through NSSFs operations manager but they refused to remit his savings, claiming that his not permanently incapacitated.
National social security fund has donated 60 million shillings to renovate two Kampala Capital City Authority schools.
NSSF Executive director Richard Byarugaba handed over the cash that was raised under the Hash runner’s project, to KCCA boss Jenifer Musisi.
She says 55 million shillings will be used to change Asbestos roof at Nakivubo settlement primary school while five million will be used to purchase water tanks for St Ponsiano Primary school in Makindye division.
Civil society organizations are urging Uganda government not to dare and use National Social Security Fund savings to bail out the indebted investors.
According to Julius Kapwepwe, executive director of Uganda debt network, NSSF money does not belong to government and it belongs to individual workers.
He says it is a good strategy for government to bail out private enterprises as long as it’s being done in systematic and policy guided manner.
He says before think about bailout strategy, the government in first should deal in addressing economical structural challenges such as high interest rate that the private enterprises continue to borrow money at.
Among the tycoons that are indebted includes, Hamis Kigundu, Patrick Bitatule, Ephraim Ntaganda, Elly Kaluhanga and others.
The National Social Security Fund (NSSF) has launched a savings campaign dubbed “Friends with Benefits” aimed at educating its members and the general public about a savings culture and better usage of benefits.
The campaign will run as a TV show programme profiling retired workers who invested or used their NSSF benefits to transform their lives, and those of the communities around them.
While addressing journalists at the launch of the campaign at Workers House, Richard Byarugaba, the Managing Director NSSF Uganda, noted that, the campaign aims at showcasing inspiration success stories from members who have received and used their benefits to change their lives, those of their families and even the communities they live in so as to motivate existing and potential members to invest in retirement savings.
Beneficiaries will be required to submit a short, real and compelling story (100 words) on how their lives have been transformed as a result of the benefits they received. In addition, relatives and friends can also share stories of beneficiaries they know whose lives have been transformed because they put their benefits to excellent use.
The Top 20 successful stories will be aired in a compelling TV show where winners will be selected through voting by the public.
The campaign will run for a period of 4 months and the winner will be rewarded with shs30 million in prize money. Participants will submit their stories until June 7, 2016 and these shall be vetted by a selected panel of judges that will be announced at a later date.
The campaign is expected to ignite national conversations about the need for every single Ugandan, regardless of their background or salary level, to save and invest for a better life hence cultivating a savings and investment culture among Ugandans.
The National Social Security Fund has earmarked on construction of a 3.3 billion Uganda shillings commercial modern complex in heart of Jinja Town.
The managing Director NSSF Richard Byarugaba says this is the first project that NSSF is investing outside Kampala. The project is part of the NSSF ongoing program to invest in real estate.
The Four Floor new complex will be constructed with in a period of one and half years starting next month.
The other projects of NSSF include: Mbuya Phase II; 50 high end housing units, Lubowa housing project; 2741 high end units, Pension Towers; 27-story intelligent building and The Off-Taker Housing Project.
The National Social Security Fund (NSSF) has donated equipment worth shillings 200 million to Luzira Murchison bay prison.
The equipment includes; an angle grinder, mental cutting discs, bench pillar drill, engineer’s bench, welding goggles among others.
NSSF managing director, Richard Byarugaba says this part of activities to mark NSSF customer connect week, under the theme,” Unlocking your potential”.
He says the tools donated will help equip inmates at Luzira prison with skills that will enable them improve and unlock their potentials so that they can create job opportunities once they get out of jail.
President Yoweri Museveni has advised National Social Security Fund to have a stake in critical development projects such as construction of houses and power dams in the future.
Speaking at celebration to mark NSSF’s 30th anniversary, the president noted that the organization now has a big accumulation of funds and engaging in the construction of houses would be good business because houses can be sold to those in need.
About the ongoing debate to liberalize the NSSF sector, the President said he is yet to internalize the issue adding that for the moment he is neither opposed nor supportive.
He also suggested that the Ministry of Finance and Economic Planning should have the NSSF docket under its management instead of Gender, Labour and Social Affairs Ministry.
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