The Minister of Finance, Planning and Economic Development, Henry Musasizi, has directed the Uganda Retirement Benefits Regulatory Authority (URBRA) to ensure the successful implementation and proper regulation of the new Public Service Pension Scheme so that it contributes sustainably to the growth of Uganda’s retirement benefits sector.
He made the remarks while meeting the Board and Management of URBRA at the Finance Ministry.
Musasizi said the retirement benefits sector, whose assets have grown to about Shs36 trillion, should partner with Government to support the implementation of the Tenfold Growth Strategy.
He said the sector’s savings constitute patient capital that should be well managed and deployed in productive sectors of the economy to support investment, job creation and long-term economic transformation.
The Minister also urged URBRA to continue engaging stakeholders across the country to promote voluntary retirement savings and expand participation in the pensions sector.
The URBRA delegation was led by the Chairman of the Board, Henry Balwanyi Magino, and the Chief Executive Officer, Martin Anthony Nsubuga.
Balwanyi said the Authority’s new Strategic Plan for the period 2025/26 to 2029/30 is anchored on the theme: “Harnessing Retirement Savings for Sustainable Socio-economic Transformation.”
He said achieving the Government’s Tenfold Growth Strategy will require a substantial increase in domestic savings, with retirement savings remaining central to that ambition.
“Every shilling saved for retirement is not only securing the future of an Ugandan worker—it is also building the capital that finances Uganda’s future,” he said.
Balwanyi noted that a stronger pensions sector would translate into stronger domestic savings, stronger capital markets, greater investment, more jobs and faster progress towards the Tenfold Growth Strategy.
He reaffirmed the Authority’s commitment to strengthening regulation, expanding retirement savings and ensuring that pension assets are harnessed to support Uganda’s sustainable socio-economic transformation.
