PENSION SECTOR: MPs want mid-term access
Members of the Parliamentary Pension Scheme are lined up to access 20% of their contribution when the President assents to an amended bill in accordance with Article 91 of the Constitution. The Parliamentary Pensions (Amendment) Bill, 2022, introduced as a private member’s bill by workers’ MP, Hon. Arinaitwe Rwakajara, in July was passed by the House following a lengthy debate during plenary on Wednesday, 07 September 2022. The House voted to introduce a new clause to allow pension scheme members who are 45 years and above, and have saved for at least 10 years to have midterm access to 20 percent of their savings. Parliament last year passed the National Security Social Fund (NSSF) Amendment Bill, which granted 20% midterm access to eligible members. I spoke to the retirements benefits authority chief Martin Nsubuga however says parliament has shared the bill, saying there are issues to fix.
