Retirement: Campaign Launched to Boost Savings

3765 Views Kampala, Uganda

In short
The campaign will use print, radio, television, social media and other online platforms to create awareness on saving for retirement as well as opportunities offered by the Authority.

A nation-wide media campaign to encourage increased saving for old age has today been launched.  Code-named  ZaabuLife, the campaign is a brainchild of Uganda Retirement Benefits Regulatory Authority (URBRA).

The campaign will use print, radio, television, social media and other online platforms to create awareness on saving for retirement as well as opportunities offered by the Authority.

The Chair of the Board of URBRA, Andrew Kasirye, said the campaign targets workers generally, but young ones in particular.
 
//Cue in: Most of us …
Cue out: … forget about it.//

Finance Minister  Matia Kasaija represented by junior minister for planning, David Bahati, launched the campaign in Kampala with a call on Ugandans to embrace savings for retirement.
 
//Cue in: Ladies and gentlemen…
Cue out: … professionally supervised.//

It is estimated that there are 17 million Ugandans employed formally and informally, with the later constituting about 80 percent. Presently,  the National Social Security Fund monopolizes mandatory retirement contributions by private sector workers who are formally employed and their employers as well as government agencies.

Civil servants, on retirement, are entitled to pensions paid for by the state.

URBRA has also started licensing retirement savings schemes - 64 of them now - but they are not mandatory like NSSF.

The Chief Executive of URBRA, David Nyakundi Bonyi, assured Ugandans of safety of their savings with schemes licensed by the Authority. He said it is very hard for the savings schemes to collapse because of the rigorous regulatory framework which has been put in place.
 
//Cue in: I have not …
Cue out: … period of time.//

 

About the author

David Rupiny
In his own words, David Rupiny says, "I am literally a self-trained journalist with over 12 years of experience. Add the formative, student days then I can trace my journalism roots to 1988 when as a fresher in Ordinary Level I used to report for The Giraffe News at St Aloysius College Nyapea in northern Uganda.


In addition to URN for which I have worked for five years now, I have had stints at Radio Paidha, Radio Pacis, Nile FM and KFM. I have also contributed stories for The Crusader, The New Vision and The Monitor. I have also been a contributor for international news organisations like the BBC and Institute for War and Peace Reporting. I am also a local stringer for Radio Netherlands Worldwide.


I am also a media entrepreneur. I founded The West Niler newspaper and now runs Rainbow Media Corporation (Rainbow Radio 88.2 FM in Nebbi). My areas of interest are conflict and peacebuilding, business, climate change, health and children and young people, among others."