{"id":69681,"date":"2024-03-26T06:30:43","date_gmt":"2024-03-26T06:30:43","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds"},"modified":"2024-03-26T06:49:56","modified_gmt":"2024-03-26T06:49:56","slug":"45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds","title":{"rendered":"45 percent of pensioners continue to work after retirement, NSSF survey finds"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>At least 45 percent of pensioners continue to work after retirement to meet life needs, many of which cannot be met by paid-out benefits, according to the National Social Security Fund (NSSF) head of research and product development.<\/b><\/p>\n

While presenting findings on the recently concluded NSSF National Beneficiaries Survey Report, Mr Stephen Omojong, the NSSF research and product development manager, said although a beneficiary receives an average of Shs24m, 60 percent received less than Shs10m, noting that NSSF benefits are not sufficient for retirement.<\/p>\n

\u201cMembers need to multiply the meagre benefits to survive on them longer. The needs of life after retirement are not being met by just NSSF benefits but through a combo of other strategies. 45 percent retirees continue to work past the retirement age,\u201d he said, adding that they had found that 4 percent of retirees seek employment well into retirement.<\/p>\n

The report conducted in partnership with Enterprise Uganda sought to assess the performance of benefits and perceptions towards retirement as well as enable the two organisations to develop a better understanding of how retirement benefits are utilised and learn about the quality of life of former members.<\/p>\n

The report also found that there was high dependency on beneficiaries over the age of 45, which makes it impossible for them to enjoy their benefits, some of which are accessed through mid-term.<\/p>\n

\u201cBeneficiaries at that age still have major responsibilities like education and housing. Due to this, many opt to continue working to stay afloat; 63 percent of the beneficiaries were still in active employment,\u201d Mr Omojong said. NSSF also found that among members aged 50 and above, 45 percent were still working full or part-time, while many retirees tended to make wrong financial decisions, especially through the influence of friends and relatives.<\/p>\n

\u201cRoughly 79 percent of beneficiaries already had plans for their benefits, this explains the low uptake of financial literacy since members being proud of their plans will tend to be less receptive to advice or education,\u201d Mr Omojong said.<\/p>\n

The survey also found that beneficiaries from eastern Uganda mostly rely on non-expert financial advice to invest their benefits, followed by those from western and northern Uganda<\/p>\n

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

Africa-Press – Uganda. At least 45 percent of pensioners continue to work after retirement to meet life needs, many of which cannot be met by paid-out benefits, according to the National Social Security Fund (NSSF) head of research and product development. While presenting findings on the recently concluded NSSF National Beneficiaries Survey Report, Mr Stephen […]<\/p>\n","protected":false},"author":84,"featured_media":69680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-69681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\n45 percent of pensioners continue to work after retirement, NSSF survey finds - Uganda<\/title>\n<meta name=\"description\" content=\"At least 45 percent of pensioners continue to work after retirement to meet life needs, many of which cannot be met b ...\" \/>\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\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"45 percent of pensioners continue to work after retirement, NSSF survey finds\" \/>\n<meta property=\"og:description\" content=\"At least 45 percent of pensioners continue to work after retirement to meet life needs, many of which cannot be met b ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds\" \/>\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=\"2024-03-26T06:30:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-26T06:49:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/03\/sm_1711422891.023789.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"45 percent of pensioners continue to work after retirement, NSSF survey finds\",\"datePublished\":\"2024-03-26T06:30:43+00:00\",\"dateModified\":\"2024-03-26T06:49:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds\"},\"wordCount\":377,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/03\/sm_1711422891.023789.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/45-percent-of-pensioners-continue-to-work-after-retirement-nssf-survey-finds\",\"name\":\"45 percent of pensioners continue to work after retirement, NSSF survey finds - 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