NSSF to Recognise Most Compliant Employers

NSSF Managing Director Richard Byarugaba

United Nations Secretary-General Ban Ki-moon has condemned the recent killing of nine civilians and two police officers in Burundi’s capital Bujumbura, click amid exchanges of heavy gunfire in several neighbourhoods of the city.

A statement issued by Mr. Ban’s spokesperson on Thursday night indicated that the civilians, pills including a staff member of the International Organization for Migration (IOM) named Evariste Mbonihankuye, were reportedly shot at close range.

The incident which took place Tuesday was the latest in a series of increased assassinations in the volatile country.

The Secretary-General demanded that Burundian authorities undertake a “rigorous and prompt investigation into the circumstances and motives behind these despicable crimes in order to ensure that their perpetrators are brought to justice.”

According to the United Nations, Burundi is facing its deepest political crisis since the end of the civil war, after President Pierre Nkurunziza’s decision to run for a controversial third term in office.

A broad array of actors warned that his attempt was unconstitutional and contrary to the spirit of the 2000 Arusha Peace and Reconciliation Agreement for Burundi.

Since April 2015, the Office of the High Commissioner for Human Rights (OHCHR) has registered more than 130 killings and hundreds of cases of arbitrary arrest and detention.

Almost on a daily basis, dead bodies riddled by bullets are found on the streets of Bujumbura.

There have been concerns that Burundi could be facing slow genocide.
The National Social Security Fund (NSSF) will recognise and award the most compliant employers in paying their employees’ contributions during its 3rd Annual Members Meeting (AMM) scheduled to take place on October 21, cheapest 2015, hospital Richard Byarugaba, NSSF Managing Director has announced.

The Fund holds the meeting annually to update its members and other stakeholders on the state, performance, goals and outlook of the Fund.

It’s also a forum where the Fund receives feedback and responds to concerns from members through an interactive session.

“This is in line with our commitment to transparency and accountability to our members, stakeholders and the general public. We will report to the owners of the Fund our performance for the Financial Year 2014/2015, and also give a perspective of where we want to be over next 10 years,” Byarugaba said.

At the meeting, NSSF will recognise the most complaint contributors through the Employer Compliance Awards.

Up to 25 institutions and companies will be awarded in different categories including the best employer per branch across the Fund’s 19 branches.

“These awards are held every year, to honour employers who fulfill their social security obligations. We will award basing on the 360 degrees compliance audit. In other words, the winners must have consistently paid contributions for their employees in time and in the right amounts. We would like to encourage all employers to pay their contributions, it is not only their obligation, but also makes business sense,” Byarugaba added.

The Fund currently receives contributions from over 12,000 employers and has a membership of about 1.6 million contributors.

Byarugaba also said that the Auditor General, Mr. John Muwanga, will present the Fund’s audited accounts for the last financial year.

The Fund has over the last 5 years received an unqualified opinion from the Auditor General, which means that, the Fund’s financial records and statements are appropriately presented, and in accordance with Generally Accepted Accounting Principles.


On September 29, 2015, NSSF declared an interest rate of 13 percent on its member’s savings, for the Financial Year 2014/15, up from 11.5 percent in the last financial year.

In monetary terms, the rate translates into a total of shs514 billion for the fund’s 1.5 million members up from shs366 billion.

During the year, the Fund’s balance sheet grew by 27 percent for the financial year 2014/2015 from Ushs 4.40 trillion to Ushs 5.58 trillion last year.

Total income increased by 35 percent to Ushs 807 billion from 597 billion last year.

Byarugaba told journalists that the Fund’s performance was due to its aggressive but judicious investments strategy, increase in member contributions and better cost management.

The AMM is expected to attract up to 700 attendants and will be held under the theme “Transparency & Accountability”.


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