The Gender Labour and Social Development Committee of Parliament has approved the 20 percent midterm access for National Social Security Fund (NSSF) savers aged 45 and have saved for 10 years.
The NSSF bill which among other things sought to allow for midterm access of NSSF was passed by the 10th Parliament, but a ruling by the Speaker of Parliament Jacob Oulanyah guided that all business of the 10th Parliament not assented to had lapsed and needed to be reconsidered.
Initially, the bill proposed that savers aged 45 years old and those who had saved for at least 10 years qualified for midterm access, however, the President objected to this, guiding that only those who were 45 and had saved for 10 years should be able to access the midterm.
While making a presentation to Members of Parliament yesterday, Kabahenda said that the committee is confident that the fund will continue to grow even when placed under the Ministry of Gender, Labour & Social Development.
The Deputy Speaker of Parliament Annet Anita Among suspended the debate on the report for members to internalize and read the report before it can go for the third reading.
Among said most of the MPs in Parliament were new and therefore needed to understand the proposals before the debate.
