National Social Security Fund (Amendment) Bill, 2019
An Act to amend the National Social Security Fund Act, Cap. 222 to establish a stakeholder board; to provide for mandatory contributions of all workers regardless of the size of the enterprise or number of employees; to provide for voluntary contributions to the Fund; to empower the Fund to recover from a third party any sum owed to a defaulting contributing employer to cover any contribution, penalty or interest; to provide for midterm access to voluntary contributions, to provide for a five year tenure for the managing director and deputy managing director; to empower the Minister to prescribe a threshold of expenditure by the Fund prior to approval of the annual budget by statutory instrument; to empower the Board to use in-house expertise and fund managers in the investments of scheme funds, including lending to Government; to empower the board to introduce new benefit., in consultation with the Minister; to provide for the payment of an annual levy by the Fund to the Uganda Retirement Benefits Regulatory Authority and for related matters.
Number of Bill:
5 July 2019
Sponsor of Bill:
Hon. Janat Mukwaya, Minister of Gender, Labour and Social Development