NSSF Midterm Access payments kick off on March 7

By Ben Musanje

3^rd March 2022

Savers that have not made a total of 120 monthly contributions to the National Social Security Fund –NSSF won’t be able to access their midterm benefits, the Gender Ministry has clarified.

Betty Amongi, the Minister for Gender, Labour and Social Development has told the journalists in Kampala this Thursday afternoon says that accessing the NSSF midterm benefits, eligible members will have to have made a total of 120 monthly contributions.

In January this year, President Museveni assented to the amended National Social Security Fund Bill 2021 to allow workers who have saved for over 10 years and have reached 45 years of age are allowed 20% midterm access to their savings with NSSF.

Minister Amongi  says that several people had perceived it wrongly by stating that members can access their 20 percent midterm benefits even if their total contribution are less than 10 years.

In regards to the Persons with disabilities, Amongi says that a member will be eligible for midterm access of 50 percent of his or her accrued benefits if such a member is 40 years of age and above and has made a total of 120 monthly contributions to the fund.

Recently, Richard Byarugaba, the NSSF Managing Director indicated that the fund had set aside Sh1 trillion of which about 50 billion shillings is projected to be paid per week over the next 5 months.

Meanwhile, Minister Amongi has issued and signed off the National Social Security Fund midterm access to benefits regulations 2022 and has commenced the implementation of the regulation by March 7, 2022.