URBRA decries low number of Ugandans saving for old age
Uganda has an estimated 25.3 million working people and only 3m contribute to saving schemes.
The number of Ugandans contributing to retirement saving schemes is still low, this according to Uganda Retirement Benefits Regulatory Authority (URBRA).
Uganda has an estimated 25.3 million working people and only 3m contribute to saving schemes.
Martin Nsubuga, the Chief Executive Officer of URBRA, said they are engaging with different organizations to help in mobilizing the population to embrace saving for the future.
“The latest organization to be engaged is the Inter-Religious Council of Uganda. We hope that the religious leaders can help in passing on the information to the population,” he noted.
He highlighted that the initiative of popularizing the saving campaign is aimed at creating more awareness amongst Ugandans about the benefits of saving for the future.
Carol Bunga Idembe, an official from the Inter-Religious Council of Uganda, emphasized the benefits of saving.
Out of the estimated 25.3 million working people in Uganda, only 3m people contribute to saving schemes.
Uganda Retirement Benefits Regulatory Authority is a government-owned, semi-autonomous agency responsible for regulating, licensing, supervising, and controlling the retirement sector in Uganda.
