Parliament Passes NSSF Bill For Midterm Access To Savings

Parliament has passed the long awaited controversial National Social Security Fund (NSSF) bill allowing midterm access of members to their benefits.

According to chairperson of the Joint Committee of Gender and that of Finance Agnes Kunihira, members who have clocked 45 years and have contributed to the fund for a period of ten years will be eligible to a 20 percent of their savings.

For almost two years Parliament has been at logger heads with the executive over the long awaited National Social Security Amendment bill 2019.

But the Wednesday parliamentary sitting chaired by Speaker Rebecca Alitwala Kadaga saw the legislators pass the bill with clause 10 that grants midterm access of members to their savings.

Under this clause, any one who has saved with the fund for a period of 10 years and the one that has clocked 45 years will all be allowed to access 20percent of their savings.

This bill however is pending approval from the President Museveni

–NILE POST