New NSSF Bill: Only Members Aged 60 Shall Not Pay Tax on Retirement Benefits

  • by Harriet Kafeero
  • August 15, 2019

Government has introduced to Parliament amendments to the law governing the National Social Security Fund (NSSF), seeking, among others, to ensure all workers in the formal sector to make contributions to the fund.

The National Social Security Fund (Amendment) Bill, 2019 also seeks to exempt the workers’ contributions to NSSF from taxation, but instead tax the members’ retirement benefits. The Bill was table Tuesday by state minister for youth affairs Florence Nakiwala Kiyingi. The Bill’s provisions were approved early this year by Cabinet.

The Bill in full: