Museveni signs NSSF Bill to allow 20% savings midterm access

President, Museveni yesterday has assented to the amended National Social Security Fund(NSSF) Bill 2021.

This is according to the State House press.

“The president has assented to the NSSF Bill as amended,” the Senior Presidential Press Secretary, Linda Nabusayi said on Tuesday afternoon.

By assenting to the bill into law, it means that workers who have saved for over 10 years and have reached 45 years of age are allowed 20% midterm access to their savings with NSSF.

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The NSSF Bill was first passed by the 10^th parliament in February last but it was returned to the August House by President Museveni to make changes to it and return it to him for consent.

Following its return to Parliament, the Speaker Jacob Oulanyah advised that the bill passed by the 10^th parliament can’t have changes made to it by the 11^th parliament.

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“Any member or indeed government who is desirous of having the business of the 10th Parliament that was not completed by the end of that Parliament should have that business reintroduced in the House and that business shall begin afresh. Business of the 10th Parliament that remained incomplete lapsed when the term of the 10th Parliament came to an end,”Oulanyah said.

Consequently, the bill was tabled and debated afresh by parliament before it was passed in November last year.

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