New Parliament Bill seeks to reform Public Pension Scheme
Thursday, February 6 2025 1:42 pm
By Parliament of Uganda Follow on LinkedIn
The Public Service Pension Fund Bill 2024 seeks to reform the current Public Pensions Scheme by introducing a contributory aspect to mirror the NSSF, according to a new draft introduced by the Minister of Public Service Muruli Mukasa. The first version of the bill was withdrawn by the government in May 2023.
The Bill aims to provide for the establishment of a Public Service Pension Fund and a Public Service Pension Scheme; to provide for the governance, functions, organisation, and management of the Fund; to provide for the collection of contributions to the Fund and payment of retirement benefits to pensioners and their survivors; and to provide for the investment of the monies of the Fund and related matters.
The public service pension scheme reform from non-contributory to contributory is a key highlight of the National Development Plan IV (NDP IV) under the interventions under the Public Sector Transformation Programme.
Members will consist of public servants left with five or more years in service and all subsequent new hires. The new scheme is to be financed by employees of the public service with each worker contributing 5% of their monthly salary, which will be topped up by 10% from the employer.
