Eligible members of the National Social Security Fund (NSSF) Mid-term benefits, are free to apply starting Monday 7, March, the Minister for Gender, Labor, and Social Development, Betty Amongi has revealed.
Announcing the guidelines, regulations, and processes of receiving the NSSF Midterm payments at the Uganda Media Centre, Amongi noted that following consultations with the Board of NSSF, she issued and signed off the National Social Security Fund (Midterm Access to Benefits) Regulations 2022 and the same was published and Gazetted as law.
“Therefore, with effect from, Monday 7th March 2022 eligible members as described above will be free to apply for midterm benefits,” she said.
Amongi noted that the regulations do prescribe the procedures for applying for benefits, saying, “For avoidance of doubt members will have the option of applying physically or online.”
In January, President Museveni assented to the NSSF Bill, allowing 20 percent midterm access to the contributors who have saved for over 10 years and are 45 years old.
The bill also streamlined the supervision of the 15 trillion shilling fund between the Ministries of Gender and Finance.
The workers, government, and the Gender committee agreed to have the Ministry of Gender supervise the social security aspect, while the Ministry of Finance will be in charge of the finance and investment aspects.
On the issue of whether money is available or enough, Amongi said, “To firmly state that the question of whether the Fund has the money to pay Mid-term Benefit or not should not arise. I have received assurances from the Fund that adequate liquidity has been set aside to pay qualifying members as and when they apply.”
She revealed that the Fund will pay UGX 50 billion per week over the next 5 months.
“The Fund projects that it will pay about UGX 50 billion per week over the next 5 months. I assure all members of the Fund and the country at large that all qualifying members who would like to be paid, will be paid,” she said.
Who is Eligible.
A member who is forty-five years of age and above and who has made contributions to the fund for at least ten years, will be eligible to midterm access to his or her benefits, of a sum not exceeding 20 percent of his or her accrued benefits; and
A member who is a person with disability is forty years of age and above, and has made contributions to the fund for at least ten years, will be eligible to midterm access, of a sum of 50 percent of his or her accrued benefits.
Also, for a member to be eligible for up to 20 percent of his or her accrued benefits, such a member should be forty-five years of age and above and has made a total of 120 monthly contributions to the fund.
