Minister issues guidelines for accessing NSSF midterm cash

The Minister of Gender, Labour and Social Development, Ms Betty Amongi, has issued the new regulations for midterm access to cash by savers of National Social Security Fund (NSSF).

This means effective next week, eligible members will be free to apply for midterm benefits.

“I am pleased to inform you that following consultations with the Board of NSSF, I have issued and signed off the National Social Security Fund (Midterm Access to Benefits) Regulations 2022,” Ms Amongi said at the Uganda Media Centre on Thursday, 03 March 2022.

“The same will be published in the Gazette today Thursday 3rd March 2022 and will accordingly become Law. Therefore, with effect from, Monday 7th March 2022 eligible members as described above will be free to apply for midterm benefits,” she said.

According to the minister, the regulations prescribe the procedures for applying for benefits.

“For avoidance of doubt members will have the option of applying physically or online. Furthermore, the NSSF will be required to make the necessary arrangements to facilitate application by persons with disabilities for midterm access to benefits. The Managing Director, National Social Security Fund will also give more details about the actual procedures for application,” she said.

The minister also explained that the question of whether the Fund has the money to pay Mid-term Benefit or not should not arise.

“I have received assurances from the Fund that adequate liquidity has been set aside to pay qualifying members as and when they apply. 18. The Fund projects that it will pay about UGX 50 billion per week over the next 5 months. I assure all members of the Fund and the country at large that all qualifying members who would like to be paid, will be paid,” she said.

Last year, President Museveni assented to NSSF (Amendment) Act, 2021, paving way for members who have clocked 45 years and saved consistently for 10 years to access 20 per cent of their savings. Persons with Disabilities, who are 40 and have saved for 10 years were granted access to 50 per cent of their benefits.

According to a copy of the regulations seen by this website, claimants must present details of their National ID or alien’s identification, a preferred payment method including bank or mobile money, and the NSSF number.