NSSF Mid Term Access: Hundreds Throng NSSF Head Office To Apply For Their Benefits
By Uganda Online Media
Kampala: Following the approval by the Finance Minister, Matia Kasaijja, the NSSF has today started processing the payment of midterm access benefits for those who have saved with the fund for the last 10 years and are aged 45 and over.
Hundreds of Ugandans on Monday morning lined up at the NSSF head offices in Kampala to initiate a process to access half of their savings.
The Minister of Gender Hon Betty Among, last week issued a comprehensive statement indicating which category of people is eligible to get their savings following President Yoweri Museveni’s signing of NSSF midterm access into law at the beginning of the year.
” I have issued and signed off the National Social Security Fund (Midterm Access to Benefits) Regulations 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, ” Among said in a statement.
Among also revealed that for the last few months, the fund has been developing capabilities to efficiently process and pay Mid-term benefits to qualifying members adding that it has developed technology to perform validation of both member registration data and mid-term benefit claims among others thus assuring savers that the fund has enough money to cater for all the eligible members.
” I would like to firmly state 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, Among added.
The Fund projects that it will pay about UGX 50 billion per week over the next 5 months.
According to NSSF Managing Director Richard Byarugaba, the number of eligible beneficiaries is slightly over 41,000 people.
According to Byarugaba, for one to be able to start the process, they must have an NSSF number, passport photo, bank account, phone number, and national ID as requirements.
“We need all of these items because it is the only way we can verify it is you. You have got to match 100% on these items in order to qualify,” Byarugaba said.
The NSSF Managing Director revealed that those to receive below shs3 million in total as their midterm access will be free to receive their cash via MTN mobile money or Airtel money and can apply through the same system.
He however noted that these will also go through the same process of verification, noting that by March 17, 2022, everything will be ready for the first saver to receive their midterm cash.
For those with claims worth more than shs3 million, they can do it at the NSSF branches and Kololo airstrip.
Dial *185*7*5# and select Midterm Benefits, accept terms and conditions, enter NSSF number, enter NIN, select payment month and day and confirm with your Airtel Money PIN. You will receive an SMS to confirm your submission.
Dial *165*6*4# to get started, select NSSF, Midterm Benefits, accept terms and conditions, enter NSSF number, enter NIN, select payment month and date and confirm with your mobile money PIN. You will receive a confirmation SMS.
According to section 20A(2) of the amended NSSF Act 2021, a member who is 40 years of age and above who has made contributions to the fund for at least 10 years is eligible to access a sum not exceeding 20% of his accrued benefits.
The law also allows a member who has a disability, is of 40 years of age and above and has made contributions to the fund for at least 10 years to access 50% o