inance ministry withdraws retirement benefits Bill
State minister for Labour, Mwesigwa Rukutana, has ordered that the proposed Retirement Benefits Sector Liberalization Bill 2011, that had already been presented to parliament be shelved to allow more consultations with the stake holders.Keith Muhakanizi, the finance planning and economic development permanent secretary conceded that there were loopholes and agreed that they need to do more research before announcing the way forward.“After these presentations, I would like to say that unless one does not have Uganda at heart, there is no way you can accept that we go forward with this bill in this current form,” he said, after NSSF’s Patrick Kayota had made a presentation on why the new Bill spelt disaster instead of improving on the social security sector in the country. “The big question is, does the Bill enhance the security, coverage and effectiveness of the pension sector and the answer is no. It is instead trying to strip NSSF but without giving an alternative,” said Kayota after a 15 minute presentation by Geraldine Ssali Busulwa, the NSSF acting managing director who took the meeting through the performance of NSSF, which he said has been making profits and called upon government to improve the NSSF Bill other than bringing an entirely new law. Read more