Daily Monitor
Tuesday May 04 2021
Mr Samuel Mugenyi, the proprietor Kibale Guest Cottages explains how he invested his withdrawal benefits from National Social Security Fund NSSF in a tourism business. PHOTO/Eronie Kamukama
Summary
Strive to become financially secure enough to enjoy your latter years. Aim at saving a substancial chunk of your earnings to live a fairly comfortable life in retirement.
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‘Time is money’ is a phrase that portrays the relevance of time. From when one is confirmed an adult to retirement, numerous risks, planning, investments have taken place. Hence the variables and time change with immediate effect.
At the end of March, Uganda Law Society Labour & Retirement Benefits cluster together with the National Social Security Fund (NSSF) organised an open webinar titled ‘Planning for Retirement.’ The session was aimed at mentally preparing one to position themselves for the rainy day.
Investment options for retirement savings
Tuesday April 13 2021
Finding the right balance between risk and investment return is key to a successful retirement savings strategy. PHOTO/FILE
Summary
Investments in shop keeping, consultancy, cooking and farming are some of the ideas to engage in because there not labour intensive and guarantee a regular cash flow.
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Investing your retirement savings is one of the best alternatives you can consider to sustain your lifestyle comfortably long after you retire.
While you are working, you should identify the investments which can give you a regular cash flow to at the end of active employment.
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Throughout 2020, the economy has taken a pounding from Coronavirus (Covid-19); which has significantly disrupted economic activity, resulting in loss of jobs and incomes.
Experts say the country is yet to know the full extent of the economic impact of Covid-19.
The retirement benefits sector has equally suffered the effects of the pandemic, but the regulator says many schemes have so far weathered the storm.
Mr Martin Nsubuga, chief executive officer at Uganda Retirement Benefits Regulatory Authority (URBRA), says the sector remained stable, performing relatively well in investment.
He explains that assets under management of the total retirement sector portfolio have grown by 8.5 per cent from Shs14.56 trillion in March 2020 to Shs15.8 trillion in September 2020.
Uganda: Covid-19 Slashes Pension Contributions to Shs353b allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Covid-19 slashes pension contributions to Shs353b
Wednesday December 30 2020
Summary
Contributions continued on a downward trend with a 10.2 per cent drop from Shs394 billion in June to Shs353 billion in September.
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Experts say the country is yet to know the full extent of the economic impact of Covid-19.
The retirement benefits sector has equally suffered the effects of the pandemic, but the regulator says many schemes have so far weathered the storm.
Mr Martin Nsubuga, chief executive officer at Uganda Retirement Benefits Regulatory Authority (URBRA), says the sector remained stable, performing relatively well in investment.
He explains that assets under management of the total retirement sector portfolio have grown by 8.5 per cent from Shs14.56 trillion in March 2020 to Shs15.8 trillion in September 2020.