Uganda Passes the National Social Security Fund (Amendment) Act, 2021

The NSSF (Amendment) Bill of 2021, which was tabled before Parliament in February 2021 and subsequently passed by the Parliament in November 2021 was assented to by the President of the Republic of Uganda on 2 January 2022. It will take effect once it is published in the Gazette.

This Alert summarises the key amendments made to the NSSF Act (herein referred to as the Principal Act) and what it means for you.

Detailed Discussion in bullet.

  1. Amendment of the Definition of an “Employer”
  2. Amendment of the definition of a “Contributing Employer”
  3. Compulsory registration of employers and  eligible employees
  4. Amendment of the definition of “Contribution”
  5. Voluntary Contributions
  6. Midterm Access to Benefits
  7. Amendment of requirements for Withdraw Benefit
  8. Amendment of requirements for Emigration  Benefit
  9. Additional Benefits
  10. Amendment of events leading to the closure of  members’ accounts
  11. Increase in fines and penalties
  12. Amendment of the composition of the Board of Directors
  13. Period of directorship
  14. Termination of Directorship
  15. Amendment of the Managing Director’s and  Deputy Managing Director’s appointment
  16. Amendment of the Secretary’s Appointment and period of service

 

Click the link below to expound on the of the detailed discussion.