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“We are not blocking mid-term access,” says NSSF boss Byarugaba

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NSSF Managing Director Richard Byarugaba has said the Fund is not blocking mid-term access to benefits by savers.

In an interview with UBC TV, Byarugaba clarified that the NSSF Act does not provide for mid-term access of benefits.

“I am a trustee and I have to ensure that I run the scheme based on rules that are written in the law,”Byarugaba told UBC, regarding calls by savers to be allowed mid-term access.

He added:”Of course,I do acknowledge that the period is a little different. It is almost traumatic and tragic and therefore we need to think about ways of making sure that our customers have a better life-which is our motto,”

Byarugaba further revealed that there are ongoing discussions to amend the NSSF Act and provide for mid-term access.

The NSSF(Amendment) Bill is currently before Cabinet for discussion and key among the proposed changes is a clause to allow midterm access to benefits.

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