Browsing: Pension Fund

• Millions of pensioners in Uganda will continue decrying delayed payment of their monthly dues.
• A new Bill seeking to streamline the pension system in Uganda was withdrawn for further scrutiny by the Executive.
• The objective of the new Bill was to provide for the establishment of a public service pension fund and a public service pension scheme.

Pensioners in Uganda may have to continue decrying delayed payment of their monthly dues while the government continues to battle ghost claims on the payroll following the withdrawal of a new Bill. 

The Public Service Pensions Fund Bill, 2023, introduced on March 14, and aimed at implementing a mandatory contribution system for public servants’ pensions has been withdrawn. 

Uganda pensioners payment shall be prompt

This is despite the proposed law undergoing significant changes during the committee review. The withdrawal aggravates the pain for pensioners who were banking on the new law to get …

Zimbabwe’s dual economy, the formal and informal sectors, have become two distinct economies in Zimbabwe. With the former vulnerable to complex tax regimes and inconsistent monetary policies, the latter has no regard for both.

In some circles, the informal sector has been referred to as the grey economy, shadow economy, underground economy, parallel sector, and the cash economy.

• Econet Life, an EcoCash Holdings Zimbabwe insurance unit, has launched a unique micro-pension fund product that allows people in the informal sector to save for retirement
• The new product, called Dura/Isiphala Pension Fund, was launched in Kariba at the weekend and is expected to drive the uptake of pensions by workers in the informal sector
• Meanwhile, on March 27, 2019, President of Nigeria Muhammadu Buhari launched the Micro Pension Plan (MPP) as part of his administration’s efforts to ensure that Nigerians who worked hard during their active years in service of their