NUP Asks NSSF Savers to Keep Keen Eye on Probe

The National Unity platform- NUP, Secretary General, David Lewis Rubongoya has asked savers with the National Social Security Fund- NSSF to be alert of the current probe into the fund. 

He said that while many NSSF savers from private organizations appear to have ignored the current controversies at NSSF, he warned that their savings are not safe.

Rubongoya was speaking on Wednesday at the party’s headquarters in Kamwokya.

In December 2022, President Yoweri Museveni ordered the Minister of Gender, Labor, and Social Development Betty Amongi, to investigate the alleged mismanagement of the fund by the former NSSF former Managing Director, Richard Byarugaba. 

As a result, the Inspector General of Government-IGG halted any financial transactions at the fund, raising concern among the members about the safety of their savings and payment of their benefits within the investigation period.  

On Tuesday while appearing before the Finance Committee of Parliament, the NSSF Deputy Managing Director, Patrick Ayota said the current NSSF membership stands at 1.3 million with a historical annual growth of 140,000 members. The Fund portfolio stands at 17.9 trillion Shillings. He said 78 percent of this is fixed income assets, 15 percent equity instruments, and 7 percent real estate.  

According to the statement, the portfolio of the fund in the financial year 2019/2020 stood at 13.2 trillion Shillings, 15.5 trillion in 2020/2021, and grew to 17.2 trillion Shillings in the 2021/2022 financial year. 

Rubongoya also renewed the party’s longtime demand for the release of their detained members and also asked security agencies to stop abductions of people.

Fred Nyanzi, the chairperson of the mobilizing committee in NUP rallied NUP members to resist abductions or illegal arrests. 

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