MUK staff divided over pension wrangle
Nov 07, 2005
MAKERERE University (MUK) staff are sharply divided over the termination of the Staff Deposit Administrative Plan (DAP) scheme with the National Insurance Corporation Ltd (NICL),
MAKERERE University (MUK) staff are sharply divided over the termination of the Staff Deposit Administrative Plan (DAP) scheme with the National Insurance Corporation Ltd (NICL), writes Fortunate Ahimbisibwe.
The university academic staff association has called a meeting to discuss the fate of the pension scheme following the University Council’s decision to stop depositing contributions to NICL.
“This is a serious matter. We are meeting tomorrow (today) to find a solution to this matter. Our savings cannot be put at risk. All we want is to make sure that our savings are safe,†a source said.
The source said makerere is demanding that it be given shares in NICL, since it has sh14b in NICL. MUK allegedly terminated the contract on the ground that 60% shareholding was offered to a Nigerian firm.
The university academic staff association has called a meeting to discuss the fate of the pension scheme following the University Council’s decision to stop depositing contributions to NICL.
“This is a serious matter. We are meeting tomorrow (today) to find a solution to this matter. Our savings cannot be put at risk. All we want is to make sure that our savings are safe,†a source said.
The source said makerere is demanding that it be given shares in NICL, since it has sh14b in NICL. MUK allegedly terminated the contract on the ground that 60% shareholding was offered to a Nigerian firm.