The Speaker of Parliament, Rebecca Kadaga has called for an amendment to the National Social Security Fund (NSSF) Act to allow persons access their savings before the age of 50.
Kadaga said it is inhuman for Ugandans to make savings which they may never live to enjoy.
“The current law says you cannot access your savings until you are 50. What is the essence of saving when I can’t use it when I am sick, only to die and is taken by relatives,” said Kadaga.
The NSSF Act provides that a member of the Fund shall be entitled to age benefit if he or she attains the age of 50 years and has retired from regular employment; or if he or she attains the age of 55 years. It also provides that a member of the Fund may be treated as having retired from regular employment when he or she attains the age of 50 years, or if he or she is not in gainful occupation.
The Speaker revealed that she had received complaints from numerous people who lose employment before the age 50 but cannot access their savings for personal needs.
“Mr. Byarugaba, you know how many letters I have written to you from people who are sick but cannot get their savings for treatment simply because they are not yet 50,” Kadaga said addressing the Executive Director of NSSF.
Kadaga made these remarks at the Commissioning of the NSSF City House in Jinja on Thursday, 28 June 2018.
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