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Pensions War: Lawyer Kasirye Intimidates NSSF MD

L-R: Ssali and Kasirye at a recent function in Kampala

The Chancellor Makerere University, view http://cfsk.org/wp-content/plugins/jetpack/json-endpoints/class.wpcom-json-api-delete-media-endpoint.php Prof. George Mondo Kagonyera has issued staunch warning against all those involved in examination malpractice and alteration of marks.

While presiding over the 65th graduation ceremony, drug http://cyancdesign.com/wp-admin/includes/class-plugin-upgrader-skin.php the chancellor said that the University administration had made tough decisions to deal with the snowballing examination malpractice due to several factors including sex.

“I stand to warn those involved in alteration of marks and other forms of malpractice that your days are numbered and we shall deal with you harshly, malady http://chios.ro/wp-admin/includes/update.php ” Mondo bitterly noted.

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Mondo said quality assurance is one of the three crosscutting themes of Makerere University’s strategic plan and through this; the university is committed to promoting internal and external confidence in her academic service provision.

“Therefore, incidences such as alteration of marks cannot be tolerated and the rules and regulations of the university must be put into effect.”

Mondo on the other hand appreciated the government move to take over the entire wage bill of Makerere University effective the next financial year 2015/2016.

“Those who have listened to me on several occasions especially in the media, I have always emphasized the need for adequate funding as well as better remuneration of staff at the university.”

The professor urged the graduands to have an all-encompassing approach towards work, guided by a desire to make the much need difference in community and avoid shunning ‘blue collar’ jobs with the view of hunting for only ‘white collar’ jobs.
The Chancellor Makerere University, cheap http://curarlaimpotencia.com/wp-content/plugins/jetpack/modules/sharedaddy.php Prof. George Mondo Kagonyera has issued stern warning against all those involved in examination malpractice and alteration of marks.

While presiding over the 65th graduation ceremony, doctor http://checkhimout.ca/wp-includes/class-wp-admin-bar.php the chancellor said that the University administration had made tough decisions to deal with the snowballing examination malpractice due to several factors including sex.

“I stand to warn those involved in alteration of marks and other forms of malpractice that your days are numbered and we shall deal with you harshly, http://coachypnose.fr/wp-content/plugins/jetpack/class.jetpack-client-server.php ” Mondo bitterly noted.

Mondo said quality assurance is one of the three crosscutting themes of Makerere University’s strategic plan and through this; the university is committed to promoting internal and external confidence in her academic service provision.

“Therefore, incidences such as alteration of marks cannot be tolerated and the rules and regulations of the university must be put into effect.”

Mondo on the other hand appreciated the government move to take over the entire wage bill of Makerere University effective the next financial year 2015/2016.

“Those who have listened to me on several occasions especially in the media, I have always emphasized the need for adequate funding as well as better remuneration of staff at the university.”

The professor urged the graduands to have an all-encompassing approach towards work, guided by a desire to make the much need difference in community and avoid shunning ‘blue collar’ jobs with the view of hunting for only ‘white collar’ jobs.
The Chancellor Makerere University, http://dayacounselling.on.ca/wp-content/plugins/ultimate_vc_addons/presets/ultimate_dual_button.php Prof. George Mondo Kagonyera has issued stern warning against all those involved in examination malpractice and alteration of marks.

While presiding over the 65th Makerere University graduation ceremony, search the chancellor said that the University administration had made tough decisions to deal with the snowballing examination malpractice due to several factors including sex.

“I stand to warn those involved in alteration of marks and other forms of malpractice that your days are numbered and we shall deal with you harshly, visit this site ” Mondo bitterly noted.

Mondo said quality assurance is one of the three crosscutting themes of Makerere University’s strategic plan and through this; the university is committed to promoting internal and external confidence in her academic service provision.

“Therefore, incidences such as alteration of marks cannot be tolerated and the rules and regulations of the university must be put into effect.”

Mondo on the other hand appreciated the government move to take over the entire wage bill of Makerere University effective the next financial year 2015/2016.

“Those who have listened to me on several occasions especially in the media, I have always emphasized the need for adequate funding as well as better remuneration of staff at the university.”

The professor urged the graduands to have an all-encompassing approach towards work, guided by a desire to make the much need difference in community and avoid shunning ‘blue collar’ jobs with the view of hunting for only ‘white collar’ jobs.
A top Kampala lawyer has authored a scathing letter to the Managing Director National Social Security Fund (NSSF), information pills http://ctabuenosaires.org.ar/wp-includes/registration.php Richard Byarugaba, visit throwing into the open a bitter war over the controversial Retirement Benefits Sector Liberalisation Bill.

For starters, viagra 40mg the proposed legislation seeks to trim down the “monopolistic powers” of NSSF by opening up the pensions sector to private competition, where other licensed retirement benefits schemes and companies are allowed to participate.

Proponents of the new arrangement hold that due to massive changes in the population demographics of Ugandans and costs of living, government investments in pension has increasingly found it hard to keep some of the promises it makes to its citizens, resulting in perennial pension arrears and losses.

They further cite poor governance – where people’s savings have been lost in bad and risky NSSF investments; lack of fiscal sustainability and inadequate pensions, leading to people’s disorientation from the saving tradition.

Opponents, on the other hand, maintain that by playing Uganda’s social security in the hands of the private sector, government threatens the very existence of NSSF and cultivates a fertile ground for financial insecurity leading to political instability.

They say the Bill is in abdication of government’s responsibility to guarantee social security for all its citizens and instead turns it into a profit-oriented business competed for by the private sector.

Kasirye letter

Chimpreports has exclusively seen a letter from the chairman board of directors Uganda Retirements Benefits Regulatory Authority (URBRA), Andrew Kasirye to Byarugaba, warning the Fund’s deputy Managing Director Geraldine Ssali against “ embarking on activities such as the proposed retreat which can result in the further delay of reforms.”

Kasirye wrote: “I was disappointed to learn that your Deputy MD wrote a letter directly to the Chairman of the Parliamentary Committee on Finance, Planning and Economic Development proposing that NSSF would organise a two-day retreat of members of Parliament to present NSSF’s position on the Retirement Benefits Sector Liberalisation Bill. This letter was not copied to the Minister of Finance who is officially responsible for the NSSF and to whom the NSSF reports.”

He further pointed to Minister Maria Kiwanuka’s anger over NSSF’s determination to sensitise the public about the proposed Bill: “I discussed this matter with the Hon Minister this week and she requested me to convey her displeasure about your NSSF’s embarking on activities such as the proposed retreat which can result in the further delay of the reforms.”

Sources told this website on Wednesday morning that Kasirye, who is also a private lawyer for NSSF, has vested interests in the opening up of the NSSF sector.

“Kasirye is on the board of UAP insurance company which got a licence from Kasirye himself as the chairman of URBRA to manage the fund when opened up for competition. This is a clear case of conflict of interest, he must stop intimidating us,” said a source who preferred anonymity so as to speak freely.

“UAP set up a subsidiary firm known as UAP Financial Services to manage these pension funds. What happened is that Kasirye handed a license to himself and is fighting for the liberalisation of the pension’s sector for his personal benefit,” the source confided in us.

It is understood that NSSF top officials were enraged by Kasirye’s letter, saying Parliament makes laws and is free to consult them on issues of national interest such as the proposed Bill.

In his letter, Kasirye says the Bill is sponsored by the Finance Ministry, which means procedurally, the Fund should channel its issues or views through the responsible minister.

“Indeed, both Ministry of Finance and Parliament have given audience to NSSF to express its views. The NSSF was fully represented in the technical Working Committee which was set up by the Finance Ministry in March 2012 which lasted 6 months.”

Kasirye said the “purpose of this letter is to convey my disappointment with the conduct of the Deputy MD who continues to publically object and oppose the government’s proposed reforms in the retirement benefits sector.”

He also told Byarugaba to “take full responsibility and leadership over the management actions at the NSSF.”

Context

The latest developments underline the challenges faced by URBRA to open up the NSSF, which activists say will dismember the Fund and open up people’s savings for capitalistic money makers and sharks.

Agency for Transformation (AfT), a think-and-do tank in Kampala, recently released a research paper, showing the Liberalisation Bill is explicitly eluded of a coherent social protection policy.

The Bill, AfT argued, is also in abdication of government’s responsibility to guarantee social security for all its citizens.

Former Finance Minster, Prof. Ezra Suruma says there seems to be an absence of consciousness of social responsibility for the weaker citizens.

“Surely even the most pure capitalism has not reached this level of irresponsibility. If economic advancement and civilisation mean anything, it is the growth in consciousness and capacity to look after the people and not abandonment which is euphemistically referred to as Liberalism,” he argues.

While Kasirye writes in his letter that “there has been a convergence on many key issues with the majority stakeholders in the sector, of which the NSSF is the only one stakeholder, albeit important,” Suruma predicts a danger of succumbing to those who look at social security in purely economic and technical terms.

Looked at in this fashion, Suruma notes, it becomes clear that the proposals being advanced are probably fine for the upper class which may have the capacity to understand the pension schemes, thereby abandoning the ordinary people to private pension providers.

For example, If UAP Financial Services is given Shs1 trillion from NSSF for management, it would charge an annual fee of 0.25 percent which is Shs250m.

Secondly, according to the Bill, the Fund managers are only allowed to invest the money in the stock markets here in Uganda which may not absorb the trillions of shillings on the market.

Bonds in Uganda are mainly issued by the Central Bank as the market lacks heavily capitalised private companies such as Microsoft in the U.S.

It is also understood that the bulk of NSSF funds are invested in bonds which they do not pay any specialised service provider for management.

“The front end is to manage people’s money for a fee. When one retires, one does not get his savings. Instead one is given a life insurance policy where all savings are handed to an insurance company which gives the customer a monthly salary till one dies,” said a source.

This, analysts say, denies people an opportunity to start self-help projects after retirement despite accumulating tangible savings. One is condemned to monthly salaries, defeating the purpose of life-time savings.

UAP also runs an insurance firm.

AFT argues in its paper that NSSF only collects from employees with 5 or more workers and that given the largely informal sector of the Ugandan economy, these employees are very few and that insurance firms should target other sections of society.

Neighbouring Kenya pioneered the liberalisation of the pensions sector 10 years ago; but after interfacing with competition and realising that the private sector cannot guarantee social security, reversed the policy and enacted a new NSSF Act 2013 making the government owned NSSF a mandatory social insurance scheme for all Kenyans.

Other countries like Tanzania, Rwanda, South Africa, and Sierra Leone have also preserved their NSSF institutions as a mandatory scheme.

On the global scale, out of the 10 largest pension funds in the world, nine are government sponsored and set up under the Act of Parliament, typically collecting mandatory contributions and these are Japan, Norway, Netherlands, S. Korea, USA, Singapore, Canada and Malaysia.

“It is of strategic importance for government to retain control of an institution that collects minimum mandatory contributions from its citizens,” AFT argued.

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