BY F K MALE
The National Social Security Fund (NSSF), in a move to promote compliance among the employers, have established a partnership with the ministry of Energy and Mineral development to enhance the Social Security contribution with the oil, gas, and energy sector.
This was established in the compliance promotion campaign and workshop that brought together different players in the mineral, Oil and Gas players at Imperial Royale Hotel in Kampala on Tuesday.
Patrick Ayota the Executive Director of NSSF highlighted the need to save for old age which savings can also be used in developing the country.
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He also noted that Uganda’s long-term savings is 11 percent of which 10 percent is with NSSF, saying that the percentages are very low.
In bid to boost the country’s long-term savings, Ayota said that now NSSF is aiming at increasing the willingness to save among Ugandans through education and awareness as well as partnerships among different players also technological advancement to make it easy for Ugandans to save.
During the workshop, he noted that there are several Ugandans who are willing to save but don’t have the capacity. He revealed that now NSSF is to get involved in supporting the growth of local enterprises so that they can make reasonable money to save.
“Even in agriculture, if we intervene as a fund and help the farmer make more money, then that farmer will save with NSSF” Ayota stated.
The Minister of Gender Labor and social development, Betty Amongi said that there is more need to comply with the expanded mandate of NSSF which calls for partnerships with all Ministries Departments and Agencies so that they can support the fund.
She urged the employers to meet their obligations to the workers by, which requires them to ensure that human capital is protected.
The Minister also echoed to the employers the need to train and re-skill the workers and also remit their contributions to the fund so that they can efficiently perform at work.
The Minister of state for Minerals development, Peter Lokeris pledged full support to the fund.
NSSF gave put up to February 1st 2024 a six month period for amnesty for all the companies and employers who have not set their staff registration b records and also to remit staff contributions to avoid penalties.