NSSF belongs to workers
Mar 23, 2008
EDITOR—The Federation of Uganda Employers (FUE) has been appointed to the NSSF board of governors. FUE is an umbrella body for employers. That is great because employers pay 10% of every employee’s salary.
EDITOR—The Federation of Uganda Employers (FUE) has been appointed to the NSSF board of governors. FUE is an umbrella body for employers. That is great because employers pay 10% of every employee’s salary.
But that is not enough. NSSF’s administration needs to be overhauled. It is not owned by the Government and therefore the Government has no business monopolising all its activities. NSSF’s money entirely belongs to the workers. Therefore, it is important that workers be very well represented. Why should the NSSF board be crammed with Government appointees who are not contributors?
If the only reason is to ensure social security, a law should be put in place to compel every employee and employer to contribute to a provident fund, but that fund need not be NSSF.
Why must NSSF preside over workers’ savings for years and pay a paltry interest when those savings could fetch higher dividends elsewhere? Why is everything else being liberalised except NSSF?
Name withheld
But that is not enough. NSSF’s administration needs to be overhauled. It is not owned by the Government and therefore the Government has no business monopolising all its activities. NSSF’s money entirely belongs to the workers. Therefore, it is important that workers be very well represented. Why should the NSSF board be crammed with Government appointees who are not contributors?
If the only reason is to ensure social security, a law should be put in place to compel every employee and employer to contribute to a provident fund, but that fund need not be NSSF.
Why must NSSF preside over workers’ savings for years and pay a paltry interest when those savings could fetch higher dividends elsewhere? Why is everything else being liberalised except NSSF?
Name withheld