Regulatory Alerts2017-07-12
Pension reform will save ordinary Ugandans from old age poverty
The Ugandan government proposes pension reforms to expand mandatory retirement savings from the current 6% of the labor force to cover both formal and informal sector workers. The legislation maintains a minimum 15% contribution rate while allowing individuals to diversify their savings across multiple fund managers and receive partial lump-sum payouts. These measures aim to increase competition, lower costs, and utilize mobile money to prevent widespread old age poverty among millions of unserved citizens.
Share