Ugandans urged to save for retirement

By Juliet Nalwooga.

As Uganda joins the rest of the world to commemorate the international Labour Day, Ugandans have been urged to develop a saving culture to plan well for life after retirement

The call has been sounded by the chief executive officer National Social Security Fund, Richard Byarugaba.

He has also appealed to workers to save beyond the mandatory 5% and 10% for better returns later on in life.

He meanwhile dismisses claims that majority people die before accessing their NSSF savings saying only 2% die without assessing this money.

However to the workers they maintain the current NSSF Act should be amended to allow workers access their funds at the age of 45.

Currently workers access their funds at the retirement age of 55.