NSSF Act Uganda PDF: A Comprehensive Overview of the Social Security Law in Uganda
Nssf Act Uganda Pdf Download: What You Need to Know
The National Social Security Fund (NSSF) is a statutory body that provides social security services to workers in Uganda. It was established by the NSSF Act, Chapter 222 of the Laws of Uganda, which came into force in 1985. The NSSF Act has been amended several times, most recently by the NSSF (Amendment) Act, 2022, which was gazetted on 7th January, 2022.
Nssf Act Uganda Pdf Download
In this article, we will give you a brief overview of the NSSF Act, its main features, and its benefits for workers and employers. We will also give you some tips on how to download the NSSF Act Uganda Pdf for free.
The NSSF Act: An Overview
The NSSF Act provides for the establishment, management, and administration of the National Social Security Fund. The fund is a mandatory savings scheme for workers in the formal and informal sectors, who contribute a percentage of their income to the fund every month. The fund then pays out benefits to the workers when they retire, become invalid, emigrate, or die.
The NSSF Act also provides for the governance and oversight of the fund. The fund is managed by a board of directors appointed by the Minister of Finance. The board is responsible for setting policies, strategies, and regulations for the fund. The board is assisted by a managing director, who is the chief executive officer of the fund. The managing director is responsible for implementing the policies and decisions of the board and overseeing the day-to-day operations of the fund.
The NSSF Act also provides for the registration of employers and employees, the payment and collection of contributions, the payment and determination of benefits, the investment and finance of the fund, and the legal proceedings and offences related to the fund.
The NSSF Act: Main Features
The NSSF Act has several features that make it beneficial for workers and employers in Uganda. Some of these features are:
It covers all workers who are employed in Uganda under a contract of service or apprenticeship, whether they are Ugandan citizens or not. It also covers workers who are ordinarily resident in Uganda and are employed outside Uganda under a contract of service with an employer who resides or has a place of business in Uganda.
It requires employers to register themselves and their employees with the fund within 30 days of commencing business or employing an eligible employee. It also requires employers to deduct 5% of their employees' gross wages as their contribution to the fund and pay another 10% as their own contribution to the fund. These contributions must be remitted to the fund within 15 days after the end of each month.
It provides various benefits to workers who are members of the fund. These benefits include age benefit (payable when a member attains 60 years or retires), withdrawal benefit (payable when a member attains 55 years or ceases employment), invalidity benefit (payable when a member becomes permanently incapable of working), emigration grant (payable when a member permanently leaves Uganda), and survivor's benefit (payable to the dependents of a deceased member).
It allows workers to access their savings before retirement under certain conditions. These conditions include buying land or property for residential purposes, paying medical bills for themselves or their dependents, paying school fees for themselves or their dependents, or starting or expanding a business.
It invests the contributions collected from workers and employers in various assets such as government securities, corporate bonds, equities, real estate, and foreign currency. It aims to generate returns that are higher than inflation and ensure the sustainability and growth of the fund.
It protects workers' rights and interests by ensuring that their contributions are safe and secure, that their benefits are paid promptly and accurately, and that their complaints and queries are handled efficiently and effectively.
How to Download Nssf Act Uganda Pdf for Free
If you want to download Nssf Act Uganda Pdf for free, you can try some of these methods:
Visit the official website of NSSF Uganda at https://www.nssfug.org/ . You will find links to download various documents related to NSSF, including the NSSF Act Pdf.
Visit the official website of Uganda Law Reform Commission at https://www.ulrc.go.ug/ . You will find links to download various laws of Uganda, including the NSSF Act Pdf.
Visit the official website of Uganda Legal Information Institute at https://ulii.org/ . You will find links to access various legal resources of Uganda, including the NSSF Act Pdf.
Nssf Act Uganda Pdf Download: A Comparison with the Previous NSSF Act
The NSSF Act Uganda Pdf that you can download for free is the latest version of the law that governs the National Social Security Fund. It is the result of the NSSF (Amendment) Act, 2022, which was passed by Parliament and assented to by the President in January 2022. The NSSF (Amendment) Act, 2022, introduced several changes and improvements to the previous NSSF Act, Chapter 222 of the Laws of Uganda, which was enacted in 1985 and amended several times over the years.
Some of the major changes and improvements that the NSSF (Amendment) Act, 2022, brought to the previous NSSF Act are:
It expanded the coverage of NSSF to include workers in the informal sector, such as self-employed persons, farmers, traders, and artisans. It also allowed workers in the formal sector to make voluntary contributions to NSSF in addition to their mandatory contributions.
It increased the benefits payable to workers who are members of NSSF. It raised the age benefit from 15% to 20% of a member's average monthly salary for each year of contribution. It also introduced a new benefit called mid-term access benefit, which allows workers to access up to 20% of their savings after 10 years of contribution.
It enhanced the governance and accountability of NSSF. It reduced the number of board members from 13 to 9 and increased their qualifications and experience. It also established an independent tribunal to handle disputes and appeals related to NSSF.
It empowered NSSF to diversify its investment portfolio and increase its returns. It allowed NSSF to invest up to 30% of its assets in equities listed on any stock exchange in East Africa. It also allowed NSSF to invest up to 15% of its assets in foreign currency denominated assets.
It strengthened the protection and enforcement of workers' rights and interests. It increased the penalties for employers who fail to register or remit contributions to NSSF. It also increased the powers of NSSF inspectors to access and inspect records and premises of employers and employees.
Nssf Act Uganda Pdf Download: A Conclusion
Nssf Act Uganda Pdf Download is a useful resource for workers and employers who want to know more about the National Social Security Fund and its operations. It is a comprehensive and updated document that contains all the provisions and regulations that govern the fund. It is also a free and easy document that you can download from various websites.
We hope you found this article helpful and informative. If you have any questions or comments, please feel free to share them with us. Thank you for reading! ba313b4491