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Pension sector posts rise in withdrawals amid falling income


Pension sector posts rise in withdrawals amid falling income
Wednesday May 19 2021
Summary
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The pension sector suffered relapsed growth during March 2021 with contributory schemes registering an increase in withdrawals and a reduction in contributions. 
This, according to a policy brief authored by the Ministry of Finance for the period ended March meant that pension schemes posted a reduction in investment income amid an increase in withdrawal of benefits. 
For instance, according to data from Uganda Retirement Benefits Regulatory Authority (URBRA) during the period, National Social Security Fund (NSSF), experienced a significant increase in withdrawal of benefits payments and a reduction in assets held by umbrella schemes.  ....

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