February 2024
27Feb

Uganda Parliament Pensions Scheme to Reduce Equity Investments in Kenya

By Kenyan WallStreet   Uganda’s Parliamentary Pensions Scheme (PPS) is considering reducing its investments in Kenya due to macroeconomic challenges. The scheme’s total equity assets stand at UShs. 24 billion, out of which two percent is in Kenya. In its most recent financials, the scheme reported a gross investment income UShs. 55 billion and total assets of 425 billion. The growth in total assets marked a significant growth from UShs. 349 billion in 2021/2022 to Shs. 425billion in 2022/2023. “We…propose to reduce...

February 27, 2024
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September 2023
12Sep

Uganda turns to local pension funds for funding after being blocked by World Bank

Uganda is turning to local pension funds as a survival measure following external freezing of funding from the World Bank. The EastAfrican has learnt that the government is in talks with the World Bank for the lender to rescind its decision to withhold budget support for Kampala worth Ush6.7 trillion ($1.787 billion). The bank suspended funding last month in the wake of Kampala’s decision to pass a new anti-homosexual law deemed by the West as a violation of rights of...

September 12, 2023
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June 2023
01Jun

Uganda’s pension sector witnesses impressive growth in assets and benefit payments

In the wake of Covid-19 lockdown measures and with rising demand for short-term access to pension money, growth in assets, investment portfolios, and benefit payments defined the health of Uganda's pension market. The total assets of the sector climbed from Ush17.8 trillion ($4.8 billion) in 2020–2021 to Ush19.9 trillion ($5.2 billion) in 2021–2022 according to the most recent statistics provided by the Uganda Retirement Benefits Regulatory Authority. Private fund managers controlled assets worth less than Ush3 trillion ($801 million), while the...

June 1, 2023
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March 2023
09Mar

Uganda: Digital Technologies Enable Women Take Charge of Their Retirement Prospects

International Women's Day is a good time to apply a gender lens to all aspects of life - not only to draw attention to the traditional challenges and gaps, but also to mark achievements and to spotlight the opportunities yet to be exploited. This year's theme - innovation and technology for gender equality - is an opportunity to reflect on the unexploited potential of ICTs, that could make women realise their dreams and aspire for higher goals. Access and use of...

March 9, 2023
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July 2022
15Jul

Old Age Pensions and Social Security Today: Need to Introduce ‘Time Bank’ for the Unmet Social Needs of the Elderly in Uganda

By Kibs Boaz Muhanguzi World over, many programs have been put in place to ensure reasonable welfare and relevance of the elderly senior citizens in the community. Out of these diverse programs, pensions and social security fund, and Social Assistance Grants for the Elderly (SAGE) are common. Of recent, the introduction of time banks; a non-financial, barter system of exchange, with the aim of ensuring access to the unmet social needs of the elderly people in the community has emerged....

July 15, 2022
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November 2021
01Nov

Uganda government shoulders more burden as Makerere University pension scheme expands

The government of Uganda is facing an additional financial burden of at least Ush60 million ($16,751) annually to cater for the expanded Makerere University Retirement Benefits Scheme that was approved by the Ministry of Finance. The Finance ministry remits 10 percent of an employee’s gross salary to the scheme, as employer contributions, and employees contribute five per cent of their gross salary. An expansion in the scheme’s membership directly leads to an increase in government’s costs in the short term....

November 1, 2021
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September 2021
17Sep

Retirement Benefits Sector Report 2020

By URBRA URBRA’s supervisory approach is focused on the particular characteristics of each supervised entity. The approach has key and consistent underlying themes focusing on: • a detailed understanding of the strengths, weaknesses and major risks facing supervised entities through rigorous off-site and on-site analysis, and strategic discussions with trustees and service providers; • ensuring that supervised entities are effective in their operations, and constantly demonstrate that they are financially sound and prudently managed.   Get the book here 275 views

September 17, 2021
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August 2021
06Aug

Uganda allows early, partial pension withdrawals to cushion economy

Uganda's President Yoweri Museveni has agreed to legislation allowing some workers early access to 20% of their savings held by the state pension fund, to help them absorb the economic blow from the COVID-19 pandemic, he said. Consumers in the East African nation have been hit hard by the impact of the pandemic, forcing some of them to demand that the legislature allows them to access part of their retirement savings. Read also 1 in 3 Singaporeans are worried about retirement...

August 6, 2021
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July 2021
23Jul

Pensions and Timing of Retirement: The Case of the Public Service Pension Scheme in Uganda

By Kibs Boaz Muhanguzi Unsustainable defined-benefit public pension scheme, rising life expectancy, and high level of unemployment endanger the socioeconomic and political stability of Uganda’s economy. This research approaches the problem from labor supply point of view by: (i) analyzing the effect of the public service pension scheme on timing of retirement; (ii) investigating the required early retirement incentives that would increase employment in the public service; and (iii) determining the predictors of postretirement employment in the public service in...

July 23, 2021
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June 2021
11Jun

Is informality a barrier to economic growth in Uganda? Empirical analysis

By Stephen Esaku We apply autoregressive distributed lag modeling approach to investigate the short- and long-run relationship between economic growth and informality in Uganda. We use annual time series data, covering the period from 1991 to 2017. We find evidence of short- and long-run relationship between economic growth and informality. The results indicate that an increase in informality significantly reduces the rate of economic growth in both the long- and short-run. This evidence seems to indicate that in low income...

June 11, 2021
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