The Parliament Pension Scheme has\nrealised an assets growth of 25.7 per cent from Shs204.55 billion in 2018 to\nShs257.21billion improving its financial and investment capacity.<\/p>\n\n\n\n
The Chief Operations Manager,\nNightingale Mirembe said that this is attributed to an increase in member\ncontributions, returns on investments in the equity market and the employment\nof a new risk management policy.<\/p>\n\n\n\n
Mirembe made this revelation at the\nEighth Annual General Meeting of the Parliament Pension Scheme on 21 February\n2020.<\/p>\n\n\n\n
\u201cThe use of a new risk management\npolicy has helped us focus on investing in items that have less risk and\ngreater return,\u201d says Mirembe.<\/p>\n\n\n\n
She added that risk management is\ncrucial since the core value of the scheme is in investing funds for value and\nmitigating risks.<\/p>\n\n\n\n
Mirembe added that this helped the\nfund realise improvement in other aspects of the scheme like prompt payment of\npension benefits and.<\/p>\n\n\n\n
\u201cWe have been able to pay out\npension benefits by the 15th day of the month and sometimes the 10th day; we\nhave also reduced the unclaimed benefits from over Shs3 billion to Sshs500\nmillion,\u201d she said.<\/p>\n\n\n\n
Speaker Rebecca Kadaga pledged to support the\nScheme and to remind the President of his pledge towards offering funds to\nboost it financially.<\/p>\n\n\n\n
The Auditor General, John Muwanga\ncommended the Board of Trustees for adhering to the Parliamentary Pensions Act,\n2007, Public Finance and Management Act 2015; the Uganda Retirement benefits\nregulatory Act, 2011 and generally accepted accounting practices.<\/p>\n\n\n\n
\u201cIn my opinion, proper books of\naccount have been kept by the scheme so far, as appears from my examination of\nthose books,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Parliament Pension Scheme has realised an assets growth of 25.7 per cent from Shs204.55 billion in 2018 to Shs257.21billion improving its financial and investment capacity. The Chief Operations Manager, Nightingale Mirembe said that this is attributed to an increase in member contributions, returns on investments in the equity market and the employment of a […]<\/p>\n","protected":false},"author":27983,"featured_media":14154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_paywall_metabox":[],"jnews_override_counter":[],"footnotes":""},"categories":[98],"tags":[],"class_list":["post-14153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n