Rubanda Locals Tipped on Saving for Life After Retirement

The former commissioner in the Ministry of Education, Dr. Fagil Mandy has asked residents in Rubanda district to plan efficiently for life after retirement so as to have a brighter future in their old age.

Dr. Mandy was on Saturday addressing residents of Hamurwa and Nyamweru Sub-Counties at a development seminar organised by the Uganda Retirement Benefits Regulatory Authority (URBRA) and the Rubanda East legislator, Henry Musasizi.

He said that most people misuse the resources availed to them while they are still working and then they suffer after retirement.

“During our active service we are exposed to a lot of opportunities especially financially but how we use them will determine our ability to enjoy our lives after retirement. It is high time workers started saving for their retirement,” said Mandy.

He condemned a tendency of some workers who prioritise too much of their income on expenditure and ignore that the best practice they can ever adopt is saving.

Mandy asked elders in society to be good examples to the younger generation by being inspirational.

“It is disturbing to see an elder drunk or doing things that are less desirable. We prefer to see old people doing inspirational things that can guide our youth to better living,” he said.

Hajji Hassan Nakabale, the director in charge of communication for Uganda Retirement Benefits Regulatory Authority (URBRA) said that the seminar was in relation with their mandate to reach out to Ugandans in rural areas.

“The biggest challenge that government bodies have is their failure to come on ground to explain their functions. We are here to reach out to you to share with you our operations,” said Nakabale.

Nakabale asked people to believe in the reality of life about the changes they must experience before their death.

“Planning for retirement is a must since everybody on earth is in transit at different stages. How you live each stage in life affects your performance in the next stage,” he said.

He said that beyond 55 years, one has less chances of prosperity unless they had earlier on planned for their retirement.

Henry Musasizi, the Rubanda East legislator said he was prompted to advocate for that seminar after realising that most people in that constituency suffer during their old age.

“We have had several people struggle after their working years because they did not plan well for their retirement. I think this seminar was necessary to train our people on how to prepare for this crucial stage,” he said.