NSSF Bill: Museveni writes to Speaker Oulanyah. President Yoweri Museveni has formally written to the Speaker of Parliament of Uganda returning the National Social Security Fund Bill, 2019 with proposals for amendment.
Oulanyah revealed the contents of Museveni’s letter dated 26th August 2021 during the Tuesday plenary sitting that the Bill was returned to parliament to make re-considerations.
The Bill had endorsed a proposal for the government to allow savers who have clocked 45 years and had saved for 10 years to access 20 percent of their savings. After several months of back and forth with the fund managers and workers, the President said he would only assent to the Bill with amendments. Oulanya said.
Museveni says that allowing midterm access for all members who are 45 years and above or those who have saved for 10 years increases the total number of members eligible to access midterm which would be unsustainable for the fund.
In regard to supervision of the Fund, the President says that the supervision of the Fund should remain under the Ministry of Finance to avoid splitting the supervisory role which may cause delays in decision making, and also create room for corruption.
The President also noted that the managing director of the Fund should have a right to vote in decision making by the Board is.
However, Oulanyah said that the NSSF Bill matter is no longer with the Eleventh Parliament as per his ruling last week regarding the lapse of all pending business of the Tenth Parliament. He said that the Bill will only be considered when it is tabled afresh and the President’s letter will be used for reference by the relevant committee.
Oulanyah promised to give guidance on a case-by-case basis in regard to business that was pending before committees in the 11th parliament.