Matooke Republic
Friday, July 11, 2025
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

NSSF starts process to amend the law to allow savers access house loans

Matooke Republic by Matooke Republic
May 13, 2022
in Business
Reading Time: 2 mins read
????????????????????????????????????

????????????????????????????????????

16
SHARES
Share on FacebookShare on Twitter

The National Social Security Fund (NSSF) has embarked on consultations to amend the NSSF Act to allow a portion of a member’s benefits to be utilized as collateral to access a mortgage or loan to acquire a residential house.

According to NSSF Managing Director, Richard Byarugaba, the Fund is in receipt of the Uganda Retirement Benefits Authority (Assignment of Retirement Benefits for Mortgages and Loans) Regulations, 2022 issued by the Minister of Finance, Planning and Economic Development.

“We have always supported reforms to laws governing retirement benefit schemes in Uganda. Specifically, a law that allows for a portion of a member’s benefits to be utilized as collateral to access a mortgage or loan to acquire a residential house.

RELATED POSTS

Pearl Tower One: Meera Investments unveils Kampala’s landmark Grade-A office building

Equity Bank, Nation Media Group and KPMG launch 2025 Top 100 Mid-Sized companies survey to empower Uganda’s SMEs

This position is further informed by feedback obtained from our members during various post-retirement surveys, which show that over 68% of fund beneficiaries spend their retirement money on land acquisition, home improvement, and construction,” he said.

However, the NSSF Act currently provides for full protection to members’ contributions and benefits and prohibits any charging or assignment of the same to a third party.

This constrains the Fund from immediately implementing the recently issued regulations.

In this regard, NSSF commenced consultations with key stakeholders including the Fund’s supervising Ministry with a view to amending the offending clauses in the NSSF Act.

Related

Tags: NSSF
Share6Tweet4Send
Matooke Republic

Matooke Republic

Freshly peeled info from area code 256

Related Posts

David Ogong, the new  NSSF Board chair.

Who is David Ogong, the new NSSF Board chair

by William Kasoba
10 months ago

...

Museveni pardons former NSSF MD Jamwa, who has been serving a 12-year jail term

by Matooke Republic
1 year ago

...

All set for the Uganda Marketing Excellence Awards at the Kampala Serena Hotel this Friday

by Matooke Republic
2 years ago

...

Patrick Ayota, the new NSSF Managing Director.

Who is Patrick Ayota, the new NSSF Managing Director

by William Kasoba
2 years ago

...

MPs insist minister Amongi must resign

by Matooke Republic
2 years ago

...

Next Post

OMORO BY-ELECTION: Four nominated on first day

I don't know her- Andrew Mwenda responds to allegations of sexual misconduct against Sheebah

RECOMMENDED

Isaiah Katumwa addressing members of the press.

Johnnie Walker Green Label to Celebrate Jazz Icon Isaiah Katumwa’s 30-Year Musical Journey

July 10, 2025

Pearl Tower One: Meera Investments unveils Kampala’s landmark Grade-A office building

July 10, 2025
  • 643 Followers
  • 23.9k Followers

MOST VIEWED

  • Here is how to use NIRA’s new online portal to register or renew your national ID

    3912 shares
    Share 1565 Tweet 978
  • DNA test confirms late MP Ssegirinya was father to only 4 of 9 children presented after his death

    96 shares
    Share 38 Tweet 24
  • Kampala University proprietor Prof Kateregga’s wife rejects DNA results indicating one of three children is not his, demands fresh test in the United States

    93 shares
    Share 37 Tweet 23
  • Properties owned by late billionaire Aponye at risk of auction over Shs15 billion loan arrears

    77 shares
    Share 31 Tweet 19
  • Pastor Bugingo’s daughter Doreen Gift awarded scholarship to Arizona State University in the US

    61 shares
    Share 24 Tweet 15
Matooke Republic

Uganda's only free Newspaper. Out every Thursday. Freshly peeled info. kiwatule, Kampala, Uganda.

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2024

© Matooke Republic 2024

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.