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Uganda: 'Pensions Sector Reforms On Course'
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New Vision (Kampala)
15 May 2008
Posted to the web 16 May 2008
Charles Bwogi
Kampala
THE Government is committed to implementing the proposed social security sector reforms, Mwesigwa Rukutana, the finance state minister, has said.
Rukutana disclosed that the Government was awaiting Cabinet approval and the identification of the right body to regulate the sector.
"The process was only delayed by the transfer of the National Social Security Fund (NSSF), a key player in the sector, from the gender ministry to finance but we are still committed to it," the minister said.
Without specifying a date, Rukutana added: "In the course of this year, I believe something should be on the ground."
The Social Security Sector Reform Taskforce worked on the proposals aimed at breaking the monopoly of NSSF in the pensions sector more than four years ago.
But none of the proposals including creating a regulatory body and liberalising the sector has been implemented.
A sector expert who, declined to be named said: "Since NSSF moved to the finance ministry, little progress on the reforms has been realised."
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Dr. Ezra Suruma, noted during the 2007/08 financial year budget speech, that social security sector reforms were important for the economy.
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