{"id":30866,"date":"2022-05-13T16:49:53","date_gmt":"2022-05-13T16:49:53","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans"},"modified":"2022-05-13T17:01:04","modified_gmt":"2022-05-13T17:01:04","slug":"ag-kiwanuka-backs-nssf-on-housing-loans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans","title":{"rendered":"AG Kiwanuka backs NSSF on housing loans"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Uganda. <\/strong><\/span>National Social security Fund (NSSF) members are not eligible for the mortgage and housing loan benefit, the Attorney General (AG) has said.<\/p>\n<p>Mr Kiryowa Kiwanuka, who is currently out of the country, said the Fund is not among those envisaged under the Uganda Retirement Benefits Regulatory Authority (URBRA) Act, 2011.<\/p>\n<p>Finance minister Matia Kasaija, on Tuesday launched the URBRA Assignment of Retirement Benefits for mortgages and loans regulations that operationalise provisions of the law.<\/p>\n<p>The regulations announced allow a person who has been a member of a retirement scheme regulated by URBRA for a decade to mortgage or borrow against up to 50 per cent of their accrued benefits.<\/p>\n<p>Why retirement benefits structure must change<\/p>\n<p>Mr Richard Byraugaba, the NSSF managing director, in response on Wednesday, said the NSSF Act, which governs the Fund prohibits any charging or assignment of a member\u2019s benefits to a third party, constraining the Funds ability to offer the benefit. In a rejoinder, URBRA\u2019s chief executive officer Martin Nsubuga said NSSF must comply with the \u201csupreme\u201d URBRA Act, 2011. Mr Kiwanuka, who is the chief government, advisor, yesterday said he does not see any contradiction in the law, adding that the URBRA Act does not govern the Fund.<\/p>\n<p>\u201cI have looked at it (the laws) and my office is of the view that there is no contradiction. I am of the view that NSSF was not the kind of Fund anticipated under the URBRA Act,\u201d he said.<\/p>\n<p>The AG\u2019s opinion means if NSSF savers are to benefit from the mortgage benefit, the Act, only amended last year to grant member mid-term access would have to be revised again. Kasaija during the launch had touted the new benefit as a possible relief to the housing deficit that is estimated at 2.4 million. The locking out of NSSF savers has left the public questioning the significance of the regulations.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/uganda\">Uganda<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Uganda. National Social security Fund (NSSF) members are not eligible for the mortgage and housing loan benefit, the Attorney General (AG) has said. Mr Kiryowa Kiwanuka, who is currently out of the country, said the Fund is not among those envisaged under the Uganda Retirement Benefits Regulatory Authority (URBRA) Act, 2011. Finance minister [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":30865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-30866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AG Kiwanuka backs NSSF on housing loans - Uganda<\/title>\n<meta name=\"description\" content=\"National Social security Fund (NSSF) members are not eligible for the mortgage and housing loan benefit, the Attorney Ge ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AG Kiwanuka backs NSSF on housing loans\" \/>\n<meta property=\"og:description\" content=\"National Social security Fund (NSSF) members are not eligible for the mortgage and housing loan benefit, the Attorney Ge ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-13T16:49:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-13T17:01:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_9-627e8eb92897f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AG Kiwanuka backs NSSF on housing loans\",\"datePublished\":\"2022-05-13T16:49:53+00:00\",\"dateModified\":\"2022-05-13T17:01:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans\"},\"wordCount\":330,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_9-627e8eb92897f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ag-kiwanuka-backs-nssf-on-housing-loans\",\"name\":\"AG Kiwanuka backs NSSF on housing loans - 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