ROGERS KASAMI: Midterm Access to NSSF funds becoming a headache

Hon Kasami Rogers Mike Acaali-Kyenjojo District

OPED | It has been a big concern to Ugandans who have long waited for midterm access to their NSSF savings but in vain.

It is so disheartening to hear that the funds’ money has already been invested and there is no cash at hand to pay out midterm benefit claimants if the bill is enacted.

It has been noted that the money was lent to outside investors in other countries like Rwanda and Tanzania without the stakeholders’ knowledge and consent. It should have been at least lent to Ugandan investors so that it builds Uganda because it belongs to Ugandans.

We even wonder whether this money is safe, it may have been swindled after land in the hands of a few and greedy Ugandans whose children are busy studying in international schools, when children of the poor Ugandans (the NSSF stakeholders) are sitting at home waiting for the government to reopen schools.

The same poor Ugandans lost their jobs and those who had businesses were affected. This money was a source of some hope but we are losing patience. Some people are stressed, some are critically ill, some can’t provide for their families because they were affected by covid in one way or the other.

NSSF MD Richard Patrick Byarugaba

It was also shocking to hear the Managing Director suggest to parliament the discussion should also include expanded benefits proposed in the bill including voluntary saving beyond 15 percent and mandatory saving by all private-sector employees to boost the saving of more money. This is like adding more salt to a wound because Ugandans are already desperate. In fact, it was a careless statement!!

He further proposed that parliament should in the new law empower the Finance Minister, as the Fund Political Supervisor to prescribe how the money will be raised. This is so absurd!!

✓Why should it be a headache to access just 20% of someone’s savings from a fund worth 15 trillion?
✓Why invest in the name of boosting the economy and forget the stakeholders?

Ugandans have not forgotten what Zulu Bakoko and Jamwa did to the funds.MD Byarugaba has overstayed in office and we doubt his integrity.

I request the MPs to advocate for justice and give this issue the fair treatment it deserves. We need practical and positive solutions.

Thank you.

For God and my Country.

Hon Kasami Rogers Mike Acaali-Kyenjojo

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