National Social Security Fund Collects over sh 100 bn
By Angela Nyakuni
The Managing Director of National Social Security Fund (NSSF) Richard Byarugaba has contradicted his own decision and the one of the board, regarding savers’ money.
On 28th September 2020 at Serena Kampala Hotel, the Board Chairman Kaberenge who is Richard’s boss was very sober when he told the whole world that NSSF has enough money to pay savers once the amendments is through in Parliament.
Surprisingly, the MD is now presenting his personal position against the workers interests, something that was agreed upon in the consultation meeting from the grassroots and also approved by himself and his board.
“Not every body will rush for the money, there will be regulations, which will be determined by the board,” a concerned saver advised.
A source at NSSF reveals that it collects sh100 bn therefore it cannot lack money. Besides, not everyone will rush to pick the money at once at NSSF if the amendment is through.
Another concerned saver likened the Managing Director to a farm manager who is keeping a farmer’s cows, the savers are the owners who want one of the cows therefore he can’t stop them from getting one of the cows .
“It is also now clear that Richard Byarugaba is against the workers interests each time the bill moves to another stage he brings in something new to stop the amendments but this time it may take him it no longer joking subject,” a saver observed.
In an interview with the press early this year, NSSF Managing Director Richard Byarugaba said the Fund was not blocking mid-term access to benefits by savers.
“I am a trustee and I have to ensure that I run the scheme based on rules that are written in the law,”Byarugaba told the press, regarding calls by savers to be allowed mid-term access.
He added: ”Of course, I do acknowledge that the period is a little different. It is almost traumatic and tragic and therefore we need to think about ways of making sure that our customers have a better life-which is our motto.”