Workers blamed for delayed pension sector liberalisation

The delay in passing the pension sector liberalization bill into law has been blamed on disagreement among workers.
The Uganda Retirement Benefits Sector Liberalization Bill is currently before parliament for scrutiny.
Proponents of liberalisation argue that it would break NSSF’s monopoly, and bring many people in the informal sector on board. Currently, NSSF keeps money for organisations with five or more employees.
However a section of the stake holders is against it, on grounds that the law will breed more corruption once the pension sector is opened up to competition.
Speaking to KFM, the African Alliance Business Development Manager George Mulindwa said there is need for more sensitization to enable workers understand the importance of the bill.

Written by Reporter