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September 29, 2020

Retirement benefits

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In the year 2011, the Retirement Benefits Sector Liberalization Bill, 2011 was tabled before the Ugandan parliament by Prof. (Hon.) Ephraim Kamuntu 1 . The objectives of the bill include among others, to provide for liberalization of the retirement benefits sector; to remove monopoly of a single retirement benefits scheme over mandatory contributions; to provide for mandatory contributions and objectives; to consolidate and reform the law relating to retirement benefits and to convert the public service pension scheme into a contributory system 2 . This  proposed law met a lot of resistance from the public ranging from members of  parliament to the various spheres of civil society like civil society organizations, workers unions, workers‟ NGOs and members of the general public who found some of its provisions to be controversial, especially the introduction of private  players into the pensions sector. Consequently, the bill was passed by parliament although it has not yet been assented to and gazetted into an Act of parliament. This work therefore, is an attempt to make a critical appraisal of the contentious  bill.

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