Crisis mounts as pension arrears hits Shs316b mark
Uganda, Feb. 25 -- Data from the National Treasury indicates that thousands of employees at financially strapped parastatals run the risk of leaving without a pension because their employers failed to pay monthly contributions to the plans.
In its most recent disclosures, the Treasury states that at the end of June 2023, financially troubled state-owned enterprises had not sent in nearly Sh249.88b in employer contributions and gratuity arrear payments.
The boiling pension crisis saw a 263.66 percent increase in pension and gratuity arrears, which poses a serious threat to the social security of pensioners who may retire without a pension, according to the Public Debt and Other Financial Liabilities Framework (PDMF) of the 2023/2024 fina...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.