Ugandan parliament reaches to Trustfund on contributory pension

The head of the delegation Amos Lugoloobi, commended Nigeria’s implementation of the contributory pension scheme, saying it has proven to be a wise decision that better caters for the welfare of pensioners.Lugoloobi said: “We are in Nigeria because we have heard that Nigeria is one of the countries that have done very well in pension […]

The head of the delegation Amos Lugoloobi, commended Nigeria’s implementation of the contributory pension scheme, saying it has proven to be a wise decision that better caters for the welfare of pensioners.
Lugoloobi said: “We are in Nigeria because we have heard that Nigeria is one of the countries that have done very well in pension management and we thought we have a few things to learn from pension administration that has been put in place by Nigeria.”
He also lauded the ownership structure of Trustfund Pensions which he described as a perfect setting required to boost confidence in pension administration through its ownership structure that evokes trust among workers.
He noted that the involvement of Nigeria Labour Congress and Trade Union Congress underscore the protection of the interests of the working Nigerians.
He said: “We are trying to reform the pension sub-sector of the Ugandan economy, which has been in turmoil. We are on a working visit to National Pension Commission to study how pension funds move from the point of contribution to its final destination when a retiree can access his or her retirement benefits and also how the money is invested with a view to generating income for those contributing into the scheme.”
On her part, Managing Director of Trustfund Pensions Plc, Mrs. Helen Da-Souza while welcoming the parliamentarians expressed her eagerness to work with the Ugandan delegation.