Uganda: NSSF Heeds to Museveni Advice, Plans Special Savings Package for Ugandans Working Abroad

Ugandan currency (file photo).
30 September 2023
Nile Post News (Kampala)

The National Social Security Fund (NSSF) has announced plans to design a special savings package for Ugandans living and working overseas.

The development was announced by the Minister for Gender, Labour and Social Development Betty Amongi during the 11th annual NSSF members' meeting at Serena Hotel Kampala in line with President Museveni's guidance to have the Ugandans in diaspora recognized and supported.

"Ugandans abroad will be helped to save money under NSSF and when they return home, they have their savings,"Amongi said.

This state of affairs was brought to the attention of NSSF top management by the Senior Presidential Advisor on Diaspora Affairs, Ambassador Abbey Walusimbi, at a high-level meeting, in December 2022.

Specifically, the package will offer comprehensive solutions to address the adverse long-term financial hurdles, retirement targets, and social security needs of diasporas.

In this sense, NSSF aims to tailor an innovative savings program, to address the unique difficulties facing migrant workers and those in the Diaspora.

This, will ensure accessibility, flexibility, and fair treatment in terms of contributions, benefits, and eligibility criteria.

By embracing the presidential advice, the Fund will provide a reliable avenue for migrant workers, and the diaspora to safeguard their financial well-being and plan for a secure future.

According to NSSF Managing Director, Patrick Ayota, efforts to achieve this program will involve collaboration with industry experts, financial advisors, and relevant stakeholders.

He noted that NSSF is exploring tech-driven solutions to enhance the accessibility and efficiency of the savings package, which may include digital banking platforms, mobile applications, and online contribution systems to cater for the tech savvy lifestyle of migrant workers and those in the diaspora.

Stakeholders are optimistic that this will be a positive step toward recognizing the contributions made by Ugandans abroad, thus promoting their financial security.

According to commentators, NSSF's commitment looks promising for migrant workers and those in the diaspora, as they will soon have access to a comprehensive savings package, designed to resolve their unique financial constraints.

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