Uganda Retirement Benefits Regulatory Authority Explained

Agency Name:Uganda Retirement Benefits Regulatory Authority
Nativename:URBRA
Jurisdiction:Government of Uganda
Headquarters:1 Clement Hill Road
Kampala, Uganda
Coordinates:0°19'16.0"N, 32°35'12.0"E (Latitude:0.321111; Longitude:32.586667).[1]
Employees:43 staff (2022)
Chief1 Name:Martin Anthony Nsubuga
Chief1 Position:Chief Executive Officer[2]
Chief2 Name:Andrew Kasirye
Chief2 Position:Chairman
Parent Agency:Uganda Ministry of Finance and Economic Planning

The Uganda Retirement Benefits Regulatory Authority (URBRA) is a government-owned, semi-autonomous agency responsible for regulating, licensing, supervising, and controlling the retirement sector in Uganda, the third-largest economy in the East African Community. The authority is also responsible for issuing guidelines to allow the liberalization of the retirement sector in the country.[3] [4]

History

URBRA was established by an Act of Parliament of Uganda in 2011. The agency is under the Uganda Ministry of Finance and Economic Development but is semi-autonomous, with a governing board and a management team led by an executive director as the chief executive officer.[5]

Before 2012, there were only two major retirement benefits plans in the country: the Public Employees Retirement Plan, for some civil servants, and the National Social Security Fund (Uganda), for privately employed people whose employers had at least five employees on payroll.[5]

When URBRA was established, it was anticipated that new retirement benefits managers would be licensed and the sector would be liberalized and improved, with more choices and new retirement products introduced.[6] [4]

Licensed pension schemes

, URBRA, had licensed the following pension funds:[7]

See also

External links

0.3211°N 32.5867°W

Notes and References

  1. Web site: 19 September 2014 . Location of URBRA At Google Maps . Google Maps.
  2. Web site: URBRA Management Team . 26 August 2021 . January 31, 2023 . Uganda Retirement Benefits Regulatory Authority.
  3. Web site: 19 September 2014 . Recruitment of Chief Executive Officer for the Uganda Retirement Benefits Regulatory Authority (URBRA) . FINMAP II . Uganda Ministry of Finance And Economic Planning . September 2013.
  4. Web site: Pension regulator reveals Shs92 billion five-year plan . . 11 April 2016 . 11 April 2016 . Mark Keith . Muhumuza . Kampala.
  5. Web site: URBRA: Who We Are . 20 June 2016 . 20 June 2016 . Uganda Retirement Benefits Regulatory Authority (URBRA). URBRA . Kampala.
  6. Web site: Uganda: New Pension Plan Licensing Requirements Launch . 1 January 2013 . 19 September 2014 . . TowersWatson.Com.
  7. Web site: Uganda gets two informal pension schemes . 20 June 2016 . Kampala . Nakaweesi . 20 June 2016 . . Dorothy.