The Ministry of Gender, Labour and Social Development has today warned that workers who save their money with the National Social Security Fund (NSSF), might further be delayed to access their mid term savings, despite ammendments in the 2021 NSSF law.
According to the ministry, this is due to procedures and strings specified in the new NSSF law that was signed a few weeks ago, by President Yoweri Museveni.
Three weeks ago, the President signed into law the NSSF bill, which among other things stipulates the way operations of this entity are supposed to be run, to minmise complaints and dissatisfaction among its clients.
According to the new law, workers aged 45 years and above, who have saved money with NSSF for the last 10 years will be allowed mid-term access to 20% of their savings.
The amendments further stipulate that people with disabilities (PWD’s) are allowed mid-term access of up to 50% of their savings.
The Gender Ministry was given only two months from the time of signing the bill into law, to start distributing money, to the beneficiaries.
However in a shocking new twist of events, the Ministry of Gender today disclosed it would take them another month to satsifactorily fulfill the law specifications. Such news have generated anger and frustration among workers.
The Permanent secretary at the Ministry of Gender Labour and Social Development, Aggrey Kibenge says there is still a wide array of modalities to fulfill, precedures to be followed for one to access their savings, but urged patience among Ugandans.
“Parliament knew that there would be a certain procedure to be followed for the beneficiaries to be able to attain 20% mid-term access to their savings,” Kibenge said.
He further revealed that as a ministry, they have been in close coordination with the NSSF to foster this kind of arrangement.
He gave assurance that a special committee to work on necessary regulations was drafted, and it is working tirelessly to ensure that workers gain access to their savings.
Kibenge also disclosed that in one month time, the committee will have finalised the necessary regulations, but underlined the fact that it will not guarantee immediate distribution of money to workers.
He revealed that after regulations are done, the Gender ministry will send them the solicitor General for further endorsement.
They will later be sent to the office of the Attorney General, then to parliament, where they will be tabled and gazzetted.
Most importantly, he disclosed that they are still working around the clock to establish the exact number of those in urgent need of their savings, uncovering the fact that some clients have already approached them, revealing their unwillingness to withdraw their savings.
According to recent data from the NSSF, only 93,000 people out of its 2 million clients have saved with the entity for more than 10 years, and are aged 45 and above, meaning that they are the only ones eligible for mid-term access of 20% of their savings.
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