Stakeholders’ Reaction to MURBS Mandatory Status
Prof. Barnabas Nawangwe
Vice Chancellor
The Makerere University Community is proud of MURBS! The Trustees have transformed the scheme into a success story, winning top honours in the FiRe Awards’ Retirement Benefits Scheme (RBS) category for consecutive years since 2016. These developments together with investment diversification and a consistent return on investment above 10% annually are remarkable and un-matched. MURBS attaining the Mandatory status is continued reassurance from the Government that our brainchild scheme is not only on the right course but a blueprint for emerging national and regional providence schemes.
Congratulations to the Board and Members!
Prof. Susan Kiguli
MURBS Ambassador (Department of Literature)
When I heard that MURBS had been granted a mandatory employer-based scheme status, I was delighted. I thought animatedly that this was going to give us an opportunity as a scheme to consolidate our efforts to act as a unified Makerere University community to use MURBS as a solid platform to a financially comfortable retirement. Also, I thought excitedly that some of the super innovations, such as the Annuity Programme, could be promoted more efficiently for the welfare of retired members. As far as I could see, my pleasure at this development sprung from the assurance that a defined and definitive status meant a stable and more confident MURBS community that would unite in thinking clearly about the important goal of securing our retirement. I am a strong believer in strength in numbers, clarity of visions, and pursuit of clear goals. According to me, that is what the new status of MURBS meant. It further meant a confident working community and a happier family of retired members.
Mr. Yusuf Kiranda
University Secretary
MURBS’ exceptional abilities in the management of retirement benefits of staff had already been proven. The Mandatory status sealed the Scheme setup. The Trustees are now fully empowered to execute their mandate and ensure that members’ interests are secured. The Sponsor is committed to supporting MURBS in executing its new roles as a superannuation scheme.
Prof. Winston Tumps Ireeta
Member, Makerere University Council Principal, CoNAS.
Considering our past, when our retirements were not well secured, the establishment of our own MURBS was a relief. The security of our funds was assured and within our control because we had a chance to vote the Trustees. Later, the Scheme’s Voluntary status created some degree of uncertainty which gave most of us sleepless nights. Subsequently, the approval of MURBS as a Mandatory scheme was received warmly by all members of staff at the University. Knowing that when you retire your future is secured gives one confidence and motivation to even work harder.
Life of a Retiree
MURBS organised trainings for people like me who were about to retire. At one of the workshops, they mentioned an insurance investment programme, which is called the Annuity Plan; that I got interested in. The Plan is comparable to a pension scheme. Once you invest in it, the insurers invest your money and they give you monthly payments up to when you die. The difference for the annuity; it is your personal decision to decide whether to invest in it or not. You may decide to invest the whole amount or just part of it. For me, I decided to invest all that I got from MURBS into an annuity. I also had other investments like tree planting. I sold my trees and added to my annuity plan which increased my monthly payments.
Mrs. Dorothy Senoga Zaake
Retiree and Annuitant