Minister of Finance Planning and Economic
Development, Matia Kasaija has named retired
senior auditor Patrick Byabakama Kaberenge
as the new chair for the National Social
Security Fund (NSSF) board.
Mr Kaberenge replaces Ivan Kyayonka who
died in May this year in the Kenyan capital
Nairobi where he was receiving treatment after
suffering a stroke.
He is to lead a six member board whose term
of service is three years. He will be deputized
by Ms Sarah Irene Walusimbi of Federation of
Employers. Ms Walusimbi has been the acting
board chair.
Other board members include the ministry of
Gender Permanent Secretary Pius Bigirimana,
Deputy Secretary to the Treasury Patrick
Ocailap, NSSF managing director Richard
Byarugaba and Ms Peninnah Tukamwesiga.
According to Mr Kasaija, all appointments
were made in accordance with the existing
laws and regulations.
"Some three weeks ago there were some
fireworks about the board. The biggest
stakeholders are the workers of Uganda. Not
everyone Tom, Dick and Harry can become a
member of the board. You must qualify to
become a member of the board. He said the
new legal framework requires rigorous
assessment of nominees for the appointment
on Boards of Trustees of Retirement Benefits
Schemes to ensure their integrity and
suitability," he said.
The minister also charged the trustees to
abide by the laws of Uganda and ensure
adherence to relevant sections of the Uganda
Retirement Benefits Regulatory Authority Act
of 2011 and the NSSF act. He called upon
them to adhere to internal policies and
procedures approved by the Board.
"This is a very sensitive institution. You must
tread very carefully given the fact that you
have a lot of money to manage. I apologize to
the public and members for delaying to name
the new Board," Mr Kasaija added.
Mr Byaruhanga said workers' contributions
grew by 8% from Shs638.2 billion in Financial
Year 2013/2014 to Shs689 billion.
"Balance sheet also grew by 27% for financial
year 2014/2015 from Shs4.40 trillion to
Shs5.58 trillion," he said.
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