Pension reforms in Rwanda
The structural reforms in the Rwandan pensions sector reached its peak on July 19, 2016 with the gazetting of Regulation No. 04/2016 on the registration of voluntary pension schemes and licensing of pension scheme service providers. The regulations operationalised Law No. 05/2015 of 30/03/2015 governing the organisation of pension schemes.
The new law seeks to create a platform for the regulation and supervision on the establishment and management of pension schemes, promoting growth and stability in the sector. It is notable that prior to the enactment of the new legislations, employees and issuers of pension products in Rwanda had no structured manner of establishing and managing voluntary occupational pension schemes.
As a result, the pensions sector largely remained haphazard with its contribution to the development of the financial services sector remaining shallow.
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