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NSSF savers to start applying for mid-term cash next week
A teller in a banking hall. Whereas there are over two million people saving with the National Social Security Fund (NSSF) only 90,000 members qualify for midterm access. PHOTO/file
What you need to know:
- The assistant commissioner for industrialisation at the Ministry of Gender, Labour and Social Development, Mr Apollo Onzoma, said the terms, conditions and procedures of midterm access to NSSF benefits are ready.
National Social Security Fund (NSSF) savers eligible for mid-term benefits could start to apply for the cash next week, a senior government official said yesterday.
The assistant commissioner for industrialisation at the Ministry of Gender, Labour and Social Development, Mr Apollo Onzoma, said the terms, conditions and procedures of midterm access to NSSF benefits are ready.
“The regulations, terms and conditions and procedure of midterm access of NSSF by savers have been finalised and would be out most likely by the weekend for people to start applying for their money, more likely starting next week and we move forward,” Mr Onzoma said.
Last year, President Museveni assented to NSSF (Amendment) Act, 2021, paving way for members who have clocked 45 years and saved consistently for 10 years to access 20 percent of their savings.
The rules and regulations, only awaiting assent by Gender minister Betty Amongi, are expected to be published in the Uganda Gazette tomorrow.
According to a copy of the regulations seen by this newspaper, claimants must present details of their National ID or alien’s identification, a preferred payment method, including bank or mobile money, and the NSSF number.
ALSO READ: NSSF law: Looking beyond mid-term access
Mr Onzoma was speaking on the sidelines of a workshop at Makerere University yesterday to highlight some of the laws and policies that the government has put in place to provide a conducive environment for workers in the country.
NSSF head of marketing and communication Barbra Arimi told Daily Monitor that information about the procedure, requirements and application process for the fund will be officially communicated during a press conference slated for next Monday. “We will hold a press conference on Monday and share everything with the public,” Ms Arimi said.
Violent work conditions
At yesterday’s event, findings of a study undertaken by Makerere University Department of Social Work and Social Administration in partnership with the London School of Hygiene and Tropical Medicine UK, found out that at least 75 percent of young people are exposed to abuse at work places.
The study shows that majority of young people were exposed to some form of abuse, including child labour, sexual abuse and physical violence, fuelled by high poverty levels and family breakdown.
DON'T MISS: Savers to wait longer for NSSF cash
The co-principal investigator, Prof Eddy Walakira, said the study also found out that vocational training was an avenue of helping young people, especially those who drop out of school, to acquire employable skills.
