Categories: CAMPUS NEWSDeans And Lecturers

Makerere Staff to Acquire 17 Percent Retirement Returns from MURBS

MURBS officials pose for a photo with Makerere Staff after the Press Conference on 16th October 2018 outside Senate Building, Makerere University: COURTESY PHOTO

The Makerere University Retirement Benefits Scheme (MURBS) has given back to the Makerere University staff who are registered members of the scheme. Each member is to receive a 17 percent return of his/her savings.

MURBS declared this while at a press conference held on Tuesday, October 16, held in the Quality Assurance Tele-presence Centre, Senate Building.

According to Eng. Dr. Charles Wana-Etyem, the Chairperson Makerere University Council, the 17 percent return is to translate into enhanced savings of Makerere University staff upon their retirement.

Makerere University vice chancellor, Prof. Barnabas Nawangwe applauded the initiative for grooming the employee financial position.

“I am happy to learn that some of our staff currently have retirement benefits in excess of Uganda Shillings 200million. This has made the work of the University management easier,” said Prof. Nawangwe.

Prof. Barnabas Nawangwe addresses the members present at the MURBS press conference: PHOTO BY JAVIRA SSEBWAMI

Mr. Wilber Grace Naigambi, the Chairperson MURBS Board of Trustees, stated that during for the financial year 2017/2018, the scheme paid Shs3.79 billion benefits to 99 existing members compared to Shs3.22billion in the previous year.

As Mr. Naigambi states, MURBS is in the 4th position after NSSF, Bank of Uganda and the Parliamentary Pension Scheme according to the Uganda Retirement Benefits Regulatory Authority (URBRA).