NSSF members to access 20% of their savings

Written by on February 19, 2021

Parliament passed the National Social Security Fund, NSSF Bill 2019. Parliament passed the bill which will also allow Ugandans who are 45 years and over to access 20% of their savings.

Parliament chaired by Speaker Rebecca Kadaga also resolved that there should be dual management of the fund with the Minister of Finance in charge of the money and its investment while the Ministry of Gender should handle the social issues affecting the savers.

Agnes Kunihira, the Vice-Chairperson Gender Committee said Ugandans should be pleased about the passing of the bill.

The Bill has in the past seen controversies to do with mid-term access to savings and also which ministry should supervise the fund. At the initial stages of the Bill, it emerged that the government wanted the Ministry of Finance to supervise the fund, which has always been the mandate of the Gender docket.

Sam Lyomoki, workers MP says he is glad mid term access has been approved and the supervision of the fund is now clear.

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