I will be gald if anyone can help me with the background regulation in regard to pensions, and NSSF, FNANCIAL ENTITIES ACTS.
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Stanbic bid approved
By Andrew Kanyegirire
Stanbic Investment Management Services (SIMS) became the first investment and pension fund manager to be licensed by the Capital Markets Authority (CMA).
�We are extremely proud to be the first investment manager to be licensed by the Uganda authorities. This is a sign of growing stability and maturity in Uganda�s important sectors and will be welcomed in many quarters,� Chris Mwebesa, SIMS executive director based in Nairobi said on Wednesday.
Stanlib and Stanbic Bank (Uganda) are joint owners of SIMS. Stanlib are also the largest distributor of pension fund and wealth management products in both South Africa and the continent. The two firms are subsidiaries of the Standard Bank Group of South Africa.
During their presentation, John Mackie, the Head of African Funds at Stanlib, said the main aim of a pension fund was to deliver benefits to pensioners, but without risking the future benefits of existing members.
�The whole point of having a good fund manager is to add value to your investments,� he said.
Mackie advised trustees to act responsibly in selecting potential fund manager for their clients.
Speaking on behalf of the Minister for Gender, Labour and Social Development, Ralph Ochan, the permanent secretary said, �The opening up and liberalisation of the social security sector is key to Uganda therefore we support the initial work that Stanbic is attempting to do�.
Geoffrey Onegi-Obel, chairman of the Social Security Stakeholders Transitional Group (STG) said, �We expect the pension market to be opened up, we expect the public service pension scheme to become funded so as to reduce the drag on government.�
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bwanika
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