MPs approve 20% access to NSSF Savings; NSSF Bill to be passed after July MPs agree on 20% partial access to NSSF funds but set tight conditions for access. One more hurdle- whether to have NSSF under the Finance Ministry or Gender Ministry now remains before the bill can be passed on to the next stage.

Preliminary reports from Parliament, indicate that MPs on the Gender, Labour and Social Development and the Finance, Planning and Economic Development committees have agreed to a revision in the current NSSF Amendment Bill that allows qualifying NSSF Members to access up to 20% of their savings. To qualify, for midterm access, a member will need to have saved for more than 15 years and be below 45 years of Age or between 45 and 55 years, but has saved for more than 10 years. “It is a proposal we have built consensus on,” Hon Musaasizi Henry, the Chairman of the…