Well as the world is under threat over the Covid Pandemic Ugandan workers are more uncertain of the Future leaving them with no option but demand for their savings from NSSF to take them through the testing moment.
Now the million dollar question stands, Do you think this is viable.
A number of work members have been temporarily suspended from their work and others having their businesses completely shut down.
Prices of of essential commodities have ridiculously sky rocketed such as food.
Basing on the fact that uganda is a double z economy there is a solid expectation that many ugandans are to ramble in poverty because most of their per capita income is spent on basic needs like food.
Prices of essential supplies like water, eletricity, high interest rates on attained loans and rent fee have remainded high despite having no source of income to cover them.
With such pushing factors, the only left hope of workers are their savings with NSSF.
Despite all the crystal clear reasons to why ugandans should be offered partial of savings, Managing Director Richard Byarugaba clarifies that NSSF isn't a short term scheme rather long term scheme hence having no legal basis to provide partial payments as suggested by a section of memebers.
Managing Director Richard Byarugaba justifies that this would Upset their cash flows.
Would leave Gov't short of locally mobilised funds for its social and economic interventions since government uses most of these savings to run its obligations.
However Byarugaba expressed some hope that they updated their system giving a chance for their employees to work from home and also offering online services meaning it doesn't require one to move to their offices to access their services but rather can do this online.
The government is also putting in place measures to mitigate the economic impact caused by Pandemic Richard Byarugaba added.
