Members of Parliament have rejected the manner in which the Parliamentary Pension Scheme consulted contributors over a proposed investment in a commercial building, demanding full disclosure of the project's financial and technical details before they can take a position.
In a letter dated August 14, 2026, addressed to the Executive Director of the Parliamentary Pension Scheme, a group of MPs led by Kinkizi West MP Niringiyimana Kaberuka James Ruugi said they were responding to a text message sent to members on August 7 asking them to answer "YES" or "NO" to the Scheme's plan to invest in a commercial building.
"I find this mode of engagement deeply concerning and, frankly, insulting to the intelligence and rights of members who contribute to and have a direct financial interest in the Fund," Kaberuka wrote.
The MPs clarified that they were not opposed to the Scheme investing in commercial property, but questioned whether members could make an informed decision without access to the proposal's financial, technical and professional assessments.
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"I am not opposed to the Scheme investing in commercial property. Indeed, property can potentially constitute a legitimate investment class for a retirement benefits scheme, provided that such an investment is supported by a sound investment strategy, proper due diligence, professional advice, appropriate risk assessment and demonstrable value for members," Kaberuka said.
The lawmakers cited the Parliamentary Pensions Act and the Uganda Retirement Benefits Regulatory Authority Act, 2011, arguing that the investment of members' retirement savings is a fiduciary responsibility that requires due care, skill and accountability.
They said such a decision could not responsibly be reduced to a one-word response.
"These are fundamentally different questions and cannot responsibly be answered with a one-word response," Kaberuka said.
He added that the approach risked turning a serious investment decision into a popularity poll instead of a process guided by evidence and professional advice.
"I am particularly concerned that such an approach risks reducing a serious fiduciary and investment matter into a popularity poll, when the law requires prudent management of members' retirement savings," he said.
The MPs listed 15 categories of information they want members to receive before taking a position, including the investment proposal and its strategic justification, the amount of money involved, an independent feasibility and viability assessment, projected rental income, expected rate of return, property valuation, market analysis, investment risks and details of any potential conflicts of interest.
Kaberuka said members should also be given adequate professional assessments before being asked to approve the project.
"Before I can responsibly express an opinion, I would expect to see, among other things: the investment proposal and its strategic justification; an independent feasibility and viability assessment; the projected rental income and expected rate of return; the risks associated with the investment," he said.
The MPs also referred to the 2023 URBRA Investment of Scheme Funds Regulations, saying the regulatory framework requires proper investment management and professional analysis when pension funds are deployed.
They therefore declined to respond to the SMS poll and instead asked the Scheme's management to provide members with the relevant technical and professional reports and convene a meeting to discuss the proposal.
"We therefore respectfully decline to provide a 'YES'/'NO' response to the SMS because we do not consider such a response to constitute a meaningful or informed contribution to a decision concerning the investment of my pension contributions," they said.
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The lawmakers further asked the Scheme to clarify whether its Board had already considered or approved the proposed investment and what the YES/NO responses from members were intended to achieve within the Scheme's formal decision-making process.
They urged the management of the Parliamentary Pension Scheme to adopt a more transparent and evidence-based approach when consulting members on major investment decisions.
"Our pension contributions represent years of our labour and constitute an important part of our financial security after leaving Parliament. They must consequently be managed with the highest standards of prudence, professionalism, transparency and accountability," the MPs said.
