Insurers call for tax incentives on pension
Dec 30, 2003
UGANDA Insurers Association (UIA) has called upon the Government to revamp the taxation system and allow maximum tax incentives on returns on investment of pension funds
By Ricks Kayizzi
UGANDA Insurers Association (UIA) has called upon the Government to revamp the taxation system and allow maximum tax incentives on returns on investment of pension funds.
According to a statement issued recently, UIA says mobilisation of local savings through enhanced provision of long term insurance schemes will improve the availability of local long-term finance for Uganda’s economic development.
UIA asked for the setting up of a social security authority to vet the providers and managers of pension funds and regulate the liberalised pension sector.
The statement was in response to the Social Security Stakeholders Transition Group, which was put in place by the ministry of gender, labour and social development to collect views and recommendations from various stakeholders on pension reform.
“Our views are based on the principle of establishing a vibrant competitive pension sector to which Uganda’s speedy growth hinges,†read part of the statement.
National Social Security Fund, the national pension scheme managers have 250,000 members and 2800 workers.
UGANDA Insurers Association (UIA) has called upon the Government to revamp the taxation system and allow maximum tax incentives on returns on investment of pension funds.
According to a statement issued recently, UIA says mobilisation of local savings through enhanced provision of long term insurance schemes will improve the availability of local long-term finance for Uganda’s economic development.
UIA asked for the setting up of a social security authority to vet the providers and managers of pension funds and regulate the liberalised pension sector.
The statement was in response to the Social Security Stakeholders Transition Group, which was put in place by the ministry of gender, labour and social development to collect views and recommendations from various stakeholders on pension reform.
“Our views are based on the principle of establishing a vibrant competitive pension sector to which Uganda’s speedy growth hinges,†read part of the statement.
National Social Security Fund, the national pension scheme managers have 250,000 members and 2800 workers.