{"id":54496,"date":"2023-08-21T22:10:21","date_gmt":"2023-08-21T22:10:21","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-must-improve-pension-system"},"modified":"2023-08-21T23:21:44","modified_gmt":"2023-08-21T23:21:44","slug":"govt-must-improve-pension-system","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-must-improve-pension-system","title":{"rendered":"Govt must improve pension system"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>We might know or have seen or heard of a retired public servant who faces an endless struggle to access their pension. Many walk until they die without being able to get paid. Some of it is down to failure to file the right papers in time.<\/p>\n

However, the other part, especially within the local governments is sheer incompetence of accounting officers to do their job.<\/p>\n

The government is often quick to issue orders asking accounting officers to move retiring staff on to the pension list as soon as the clock reaches the mandatory age of 60.<\/p>\n

Retirement is hard in itself, even if you receive that monthly pension from the government given that most people in that age bracket have ailments that consume the entire sum. Can you tell how much harder it is if you are not receiving that money? This past week, we learnt that the Ministry of East African Community Affairs received Shs9.2b in the last financial year to settle pension arrears for former East African Community employees, but only Shs1.9b was used.<\/p>\n

The rest was returned to the Consolidated Fund. It is not obvious that the Ministry of Finance will give the same ministry that money in the next financial year to enable it take care of these arrears. According to the chairperson of former East African Community workers, Mr Richard Kaggwa, the current discrepancy affected 20 employees.<\/p>\n

While the number is small, it represents the ongoing problems in the pension sector as these challenges are reflected across the board. Although there have been reforms in the past, they have only been partial reforms. While they addressed structural problems and payment mechanisms both in public pension schemes and national social security schemes, they did not address the coverage and efficiency challenges that continue to characterise the current pension sector.<\/p>\n

Uganda currently has a multi-tier pension system. The two most prominent parts are the public pension system, which covers the public sector employees, and the National Social Security Fund that is meant to cover workers employed by firms with more than five employees.<\/p>\n

Other pension schemes cover armed forces, parliamentarians, and private employees as chosen by their employers. Until when the Uganda Retirement Benefits Regulatory Authority was established, the sector was unregulated.<\/p>\n

The public pension scheme is often unfunded and suffers from lack of timely access to the benefits by retired workers, and access by unqualified beneficiaries, commonly called ghost pensioners, due to lack of proper records.<\/p>\n

The government should work toward achieving the five attributes of a well-managed pension system that include wide coverage, adequacy, sustainability, security and efficiency.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. We might know or have seen or heard of a retired public servant who faces an endless struggle to access their pension. Many walk until they die without being able to get paid. Some of it is down to failure to file the right papers in time. However, the other part, especially […]<\/p>\n","protected":false},"author":84,"featured_media":54495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[233,240,234],"class_list":["post-54496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nGovt must improve pension system - Uganda<\/title>\n<meta name=\"description\" content=\"We might know or have seen or heard of a retired public servant who faces an endless struggle to access their pension. 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