Summary
NSSF Managing Director Richard Byarugaba says following mass application that started last week, Shs78.8 billion has been paid out to 4,417 eligible members to date.
The National Social Security Fund (NSSF) has so far paid Shs78.8 billion to beneficiaries of midterm access, surpassing the weekly target of Shs50 billion.
NSSF began paying out the midterm benefits on March 17, 2022, shortly after the minister of Gender approved the procedures for payment.
But NSSF Managing Director Richard Byarugaba told journalists on Wednesday, 23 March 2022 that following mass application that started last week, Shs78.8 billion has been paid out to 4,417 eligible members to date.
Byarugaba said the Fund had received a total of 14,690 applications since inception, which amounts to UGX 305b. A total of 78.8Bn has been paid to 4,417 members which implies payment to 30% of the total members who applied.
“Whereas Regulations prescribe Midterm Benefit within 45 working days, we commit to pay qualifying members in a timely manner on a weekly basis, before the prescribed timelines. We have demonstrated this commitment in these first 2 weeks,” he said.
“We have seen a few complaints regarding the time it takes to release the funds from the Fund and the time individual member bank accounts are credited. We would like to clarify that depending on the efficiency of the bank, this process takes between 1 to 2 days,”
richard byarugaba, nssf managing director
“We have seen a few complaints regarding the time it takes to release the funds from the Fund and the time individual member bank accounts are credited. We would like to clarify that depending on the efficiency of the bank, this process takes between 1 to 2 days,” he added.
Byarugaba said so far, 5,993 applications have been received via the self-service platforms. These being; USSD & Online. The USSD includes the Mobile Phone applications, that is the *165# for MTN & *185# on Airtel, which are applicable for qualifying members whose balances are below UGX 15M. The Online Web Platform – http://nssfug.org/midterm is applicable for members with balances above UGX 15M.
So far, 8697 applications have been received through the NSSF Branch Offices and the temporary outlet at Kololo Airstrip.
“In conclusion, we have surpassed the weekly payments target by over UGX 28.8 billion. This reaffirms our commitment to avail liquidity to pay all Midterm benefit obligations,” Byarugaba said.