Tag Archives: nssf

By Julius Businge The National Social Security Fund (NSSF) has today (Nov. 13) unveiled a master plan for the construction of 2, 741 housing units in Lubowa estate, which it acquired 10 years ago. When development starts, later in 2014, it will be the first investment on the estate that …

By Haggai Matsiko Major shake-up in management looms at Shs3.4 trillion workers fund Richard Byarugaba, the managing director of the National Social Security Fund, remains firm he will retain his job after Finance Minister Maria Kiwanuka directed it should be advertised. But coming at a time when Byarugaba faces mismanagement …

By Haggai Matsiko Costs continue to soar as NSSF, PPDA, IGG haggle over procurement rules In NSSF’s current advert running in the media, the bespectacled managing director Richard Byarugaba says: “So every time you think of NSSF, think of it as a promise to remain true to you,” to which …

By Andrew M. Mwenda The only way a managing director can protect their job at the fund is by sitting on their arms and doing nothing Early this year, the National Social Security Fund (NSSF) bought shares worth Shs 52 billion in an Initial Public Offering by Umeme, the electricity …

By Julius Businge The National Social Security Fund (NSSF) has recorded Shs3 trillion as its asset base for the period ending November 2012, the Fund’s  Managing Director, Richard Byarugaba told a press conference in Kampala on Nov. 6. Byarugaba said over the past 12 months, despite the harsh economic conditions, …

By Andrew M. Mwenda How a tiny minority of trade unionists have used politics to wrest control from the majority of the fund’s subscribers. In his State of the Nation address, President Yoweri Museveni said government was going to borrow money from the National Social Security Fund (NSSF) to finance …

By Richard Byarugaba At the end of the 2009 fiscal year, the balance was Shs95 billion, by end of the 2011 it had dropped to Shs28 billion Our attention has been drawn to recent press reports regarding Shs28 billion reported by the Auditor General as being held in a suspense …

  Our article titled, “NSSF on the spot,” (The Independent, March 02- 08), which was based on the Auditor General’s report of 2011, pointed out a range of issues mainly revolving around the Fund’s performance. The Independent sought out the Managing Director Richard Byarugaba to get a response to the …

  By Peter Nyanzi Workers turn to mass action to protect savings Fed up with government’s apparent lack of concern for their welfare, workers in Uganda are resorting to mass action in a bid to put pressure on the government to protect their pension savings in the National Social Security …

By Peter Nyanzi Extravagance, high expenditure eroding workers’ savings As the NSSF top bosses sing high praises about their financial statements for 2011, financial experts have started punching holes in it. In a statement issued last week, NSSF managing director Richard Byarugaba said for the first time in 10 years, …