Expect Payments In March: Gov’t Tells Excited NSSF Savers

Expect Payments In March: Gov’t Tells Excited NSSF Savers

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By Spy Uganda

Kampala: Ugandans who are excited to get their midterm access from NSSF have been told to be patient till March 2022.

The Minister of Gender, Betty Amongi says they have a couple of procedures they have to first implement like publishing the amended act in the Ugandan Gazette before releasing the payments.

“The provision regarding midterm access to benefits by qualifying members of the Fund shall come into effect after I have issued a statutory instrument that will guide on the terms and conditions and procedures for accessing benefits,” said Amongi adding;

”I am required by the Act to issue this instrument and lay the same before Parliament for information within 60 days after publication of the Act in the Uganda Gazette.”

She further noted that they have started drafting regulations to ensure the statutory instrument is prepared to allow midterm access for NSSF savers.

“The law provides that the minister puts in place a statutory instrument to guide the midterm access and must be laid before parliament. The time frame provided for is 60 days but we might not reach this time.”

President Yoweri Kaguta Museveni assented to the NSSF amendment bill 2021 earlier this week allowing workers who are 45 years and above and have saved for at least 10 years to have midterm access of up to 20 per cent of their savings, whereas Persons With Disabilities (PWDs) who have saved with the Fund for more than 10 years can have access of up to 50 per cent of their accrued savings.

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