April 2021
20Apr

Uganda To Train Pension Trustees

The Insurance Training College and Uganda Retirement Benefits Regulatory Authority (URBRA) have unveiled the commencement of a trustees training and certification programme intended to improve and enhance the professionalism of pension saving scheme trustees. According to the press statement, the training will be conducted by the institute on behalf of URBRA. The training is in line with the mandate of the Institute: promoting professionalism in the financial services sector as well as URBRA’s mandate of improving and promoting the development of...

April 20, 2021
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March 2020

04Mar

Uganda. World Bank update, a reminder of our development strategy

For the first time, Uganda’s major external funding partner, the World Bank, in its 14th Uganda Economic Update, emphasised Social Protection programmes as an important policy tool for building resilience, mitigating risks and supporting households to invest in human capital development. Uganda has continuously prioritised investment in physical infrastructure over the years and indeed, the proposed budget for the financial year 2020/21 has works and transport taking up the biggest share of the resource envelope at 19.7% up from...

March 4, 2020
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February 2020

13Feb

World Bank economic report urges Uganda to step up social protection

The World Bank has today released the 14th Uganda Economic Update which has focused on social protection systems in Uganda and proposes a more effective approach to reduce vulnerability and to support more inclusive growth. The report indicates that the coverage and design of social protection programs are currently insufficient to meaningfully address the range and scope of vulnerabilities to shocks in Uganda. It indicates that the existing direct income support programs in Uganda have low coverage, with...

February 13, 2020
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October 2019

11Oct

Low fees, payouts starve Uganda pensions industry

Latest data compiled by Uganda’s pension industry regulator has revealed shifts in market share rankings posted by local fund managers, underlying revenue risks and skewed opportunities enjoyed by big banks against small peers in terms of access to fat, short term deposits supplied by pension schemes. Read also Zimbabwe. Pensioners to get express cash The data shows Sanlam Investments Uganda Ltd recorded the highest share of pension scheme assets under management between April and June 2019, amounting to Ush822.4 billion...

October 11, 2019
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September 2019

27Sep

Pensions and Early Retirement: The Case of The Public Servants in Uganda

By Kibs Boaz Muhanguzi Retirement, if influenced by pensions, can be a good manifestation of how the government can use the pension system as a fiscal instrument to achieve some socioeconomic targets. Borrowing intuition from the postulations of disengagement theory of aging that when the elderly retire, they free up positions in paid work for the entry of young individuals, this study investigates the role of incentives on early retirement. The high levels of unemployment in Uganda amidst the...

September 27, 2019
Articles, Pension design, System Sustainability, , , ,
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August 2019

23Aug

Pan-Africa pensions and actuarial firm, Zamara enters Uganda as Alexander Forbes quits market

Alexander Forbes Financial Services Uganda Limited has rebranded to Zamara Actuaries, Administrators and Consultants (U) Limited, following the exit of the South African financial services group from Uganda. In a statement released on August 21, 2019, Alexander Forbes confirmed that they had sold their 51% stake in the Ugandan operation to Kent Holdings Limited- who previously owned 49% of the Ugandan operations. “Alexander Forbes Emerging Markets (AFEM) and Kent Holdings are pleased to announce that an agreement has been...

August 23, 2019
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July 2019

25Jul

Social pensions and accountability in Uganda

Across Africa, millions of older people live in poverty. Without access to pensions and eroding traditions of family support, many have no choice but to continue working into older age doing small-scale, low-paid farming or petty trade. For those who have disabilities or are in ill health, they may have no option to work. Without reliable incomes, older people lead precarious lives on the brink of poverty. Social pensions are key to addressing this. They have great...

July 25, 2019
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May 2019

31May

Pension Scheme Designs: Can It Influence Timing of Retirement? The Case of the Public Service Pension Scheme in Uganda

By Kibs Boaz Muhanguzi Ambiguity in literature about how pensions influence retirement decision can be a challenge to policy formulation unless further inquiry is done. This ambiguity could be attributed to a number of factors including the study scope, different pension designs and differing study methodologies. Using Uganda’s public service pension scheme, this study delves into exploring whether the scheme’s design influences timing of retirement. Using a probit model, analysis of the effect of pension o timing of retirement...

May 31, 2019
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21May

Alexander Forbes announces retreat from Uganda

Alexander Forbes Financial Services Ltd said it is exiting Uganda, part of a parent company strategic review to focus on core businesses in its primary market and reset its pan-African operations.The reset of operations outside South Africa, its primary market, will see the financial services group exit “sub-scale markets such as Uganda,” Alexander Forbes Group Holdings Ltd. said in a regulatory announcement on the Johannesburg Stock Exchange in March.“The company is committed to an orderly exit from Uganda and...

May 21, 2019
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March 2019

05Mar

Kenya’s pension firm enters Uganda’s market

A new pension administrator, Enwealth Financial Services, has entered Uganda’s pension market upon securing an operation license from the regulator, Uganda Retirement Benefits Regulatory Authority (URBRA). The firm that joins nine other pension administrators in the country plans to offer pension retirement services, training and consultancy services. Founded in 2011 in Kenya, it currently manages pension assets worth over Shs2trillion for 120 clients in 12 countries within Africa. Nelson Kuria, the company’s chairman Board of Directors said at the...

March 5, 2019
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