New NSSF bill a win-win for both gov’t and savers

By Ritah Kemigisa.

The National social security Fund has asked Ugandans to appreciate the new proposed amendments to the NSSF bill, 2019 saying it will benefit both government and members.

The proposed amendments have since attracted mixed reactions with majority labelling them unfair and a case of double taxation on the side of the savers.

However the funds deputy managing Director Patrick Ayota says it’s a win for the savers who will access their money at the age of 55 years because they will get more since their income will be tax exempt much as their benefits will be taxed.

He says it is also a win for government since they will get more taxes.

Ayota meanwhile says for the He adds that for those who save and are patient enough to access their savings at the age of 60 years will not be taxed.

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