In September last year MPs disagreed over the clauses relating to midterm access and the supervision of the funds. At the initial stages of the Bill, the government wanted the Ministry of Finance to supervise the fund, which had earlier been transferred to the Gender docket.
The committees observed that NSSF already lends to the government and other entities using instruments prescribed in the URBRA Act & Regulations including, among others; Treasury Bills, Bonds and government securities.
Kadaga was forced to abruptly adjourn plenary on Wednesday when Lyomoki declined to leave the floor while protesting a ruling by the speaker to postpone the second reading of the bill for a further two weeks.
Presented before Parliament in August 2019, the Bill has generated controversy in regard to mid-term access of funds and which ministry between that of Finance and Gender should take charge of the finances.
Members of Parliament on the joint committee composed of Finance and Gender committees of parliament have in the past months engaged to finalize building consensus especially on the need for NSSF members who are below 45 years and have not saved for at least 10 years to be allowed to benefit from the midterm access window.
A joint team of members of the gender and finance committees is scrutinizing the NSSF bill, which among others, seeks to make it mandatory for all workers to register and contribute to NSSF, allow for self-employed people to contribute to NSSF and allow midterm access to benefits for voluntary members.