NSSF HAS BEEN DRAGGED TO COURT

By Sania Babirye

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.

 

NSSF targets Shs900 billion member contribution

By Waswa Deo

The National social security fund is targeting shs900b member contributions by June 2017 from what the fund recorded last year of shillings 785 billion.

According to Fund managing director, Mr Richard Byarugaba, the Fund projects a 15% growth in member contributions this financial year 2016/2017 from what it registered last financial year.

Byarugaba made the remarks at 4th NSSF Annual Members Meeting 2016 at the Kampala Serena Hotel under the theme ‘’ transparency and accountability for members”.

At the same event, 27 Employers were recognized for paying their employees’ salaries on time.

DFCU Bank scooped the overall award followed by Price Water House Coopers, Electricity Regulatory Authority in third, Jubilee Insurance Company of Uganda and Kampala Motors Limited – in that order.

The Members Meeting attracted over 600 people, including NSSF contributors, employers, workers unions’ representatives, government representatives and members of the public.

Photo: Daily Monitor

NSSF donates 60 million shillings

By Robert Ssegawa

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.


Photo: Ssegawa Robert

Government asked not to use NSSF funds

By Wasswa Deo

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.


Photo: NTV Uganda.

NSSF STARTS Shs 14.5bn HOUSING PROJECT

By Deo Wasswa

The National Social Security Fund (NSSF) has commissioned the construction of shs 14.5bn housing project in Mbuya.

This is part of NSSF’s continued efforts to expand its real estate investment portfolio to deliver value to its members.

Speaking at the ground breaking ceremony, Richard Byarugaba, the NSSF boss noted that, Mbuya project is in response to a housing deficit and lack of adequate and well planned real estate in Kampala.

The project comprising of 40 apartments will be completed in a space of two years.


PHOTO: bigeye.ug

NSSF “Friends with Benefits”

By Wasswa Deo

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.

 

NSSF STARTS ON A PROJECT WORTH 3.3 BILLION

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.

NSSF 1
Artistic impression of the Jinja mixed development project

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.

 

NSSF CASE ADJOURNED

Hearing of the case in which deputy managing director of NSSF Geraldine Ssali Busulwa is challenging being forced to take leave has been adjourned to next week.

Geraldine Ssali went to the court to challenge a move by the NSSF board to force her to go on annual leave on suspicion that she was involved malpractices.

Justice Steven Musota of civil division of the high court has adjourned the case to 21st April 2016.


PHOTO: www.chimpreports.com

200 MILLION DONATION TO LUZIRA MURCHISON BAY PRISON.

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.


PHOTO: www.chimpreports.com

Museveni: NSSF has capacity.

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.