General
MURBS Prepares Members for Retirement and Launches Biometric Registration
![[L] Mr. Dennis Mugalya - Investment Manager, PineBridge Investments, Second Left is Mr Joseph Njuguna the Schemes Operations Manager, Octagon Africa at the training.](https://news.mak.ac.ug/wp-content/uploads/2016/05/field_image_Nugalya-and-Njuguna.jpg)
“Financial planning leads to financial freedom. A financial plan is very important for every successful worker. Some of us work very hard, but we don’t find time to plan for the money we get. You have to plan for your money to ensure that you have a rest and peace of mind. You should not spend more than what you earn,” highlighted Mr. Joseph Njuguna, the Manager of Scheme Operations at Octagon Africa, a Pension Consultancy firm.
Mr. Njuguna emphasized the importance of a financial plan in the course of preparing for retirement during the Makerere University Retirement Benefits Scheme (MURBS) Sensitization Seminar held on Tuesday 26th April 2016 at Makerere University.
“We all need to do something, save as much as you can in the pension scheme. To continue with the same standards of living before and after your retirement, you must plan now. After retirement, have a residential home and let other assets you have been working for work for you,” Mr. Njuguna emphasized.
Focusing on the theme, Members actively involved in securing their retirement, which was derived from the Board’s strategy to boost accountability and client focus, Members listened to insightful presentations focused on securing a proper retirement.
During the Sensitization Seminar, participants were equipped with valuable knowledge and tips on financial planning, saving now for retirement, investment, the relevance of tracking expenditure, ensuring a proper diet as well as living a healthy life to avoid diseases that would affect them after their retirement. The Members were also enlightened on the MURBS Investment Policy Statement, the current Investment climate and its implication for the MURBS fund.
“I encourage members to undertake investments, most especially, in fixed assets like land, infrastructure, and equipment. These assets are not likely to be converted easily into cash. And their future economic benefit is probable to flow into the entity, whose cost can be measured reliably,” said Mr. Dennis Mugalya, who is an Investment Manager with PineBridge Investments E.A Ltd, and, also, the Chairman of the Investment Management Association of Uganda.
Focusing on the investment climate, Mr. Mugalya revealed that where one invests his/her money, will determine the amount of return to be yielded. He advised members to consider equity investment. This involves buying and holding shares of stock on a stock market in anticipation of income from dividends and capital gains, as the value of the stock rises. He also encouraged members to invest in treasury bills and bonds.
“Investment always comes with risks, including the interest rate. In investment, we have a number of risks. The more risk you take, the more return you expect. Risk is not losing your money, but it is because your return is volatile,” said Mr. Mugalya.
Dr. Paul Kasenene, a qualified Medical Doctor, Nutrition Educator, and a Member of the Technical Working Group of Non Communicable Diseases in the Ministry of Health and Managing Director of Wellcare Health & Wellness Clinic Kampala sensitised members on how to live healthy and prevent diseases that would affect them before and after their retirement.
“To enjoy any aspect of your life, you have to be alive and healthy. Despite more access to information and more advances in research and technology, people are actually getting unhealthier than before,” said Dr. Kasenene.
Dr. Kasenene mentioned that a person’s health is determined by the choices they make every day. “What we do daily either helps us to fight or feed the diseases. Some of us may already have health problems, but the good news is that most of those problems can be slowed, reversed or even stopped. No matter what kind of life you have lived, ill-health is reversible. The solution lies not with doctors, but with you making the right choices in your life,” he said.
He discouraged the habit of going for medical checkups only when people feel sick. He informed participants that such habits have complicated treating diseases like cancer which have no immediate signs and symptoms. He urged members to frequently go for medical tests, eat health diets, take plenty of water and do physical exercises. He appealed to participants to eat plenty of fruits and vegetables. He advised members to focus on the cause of the problem in order to avoid it, than treating the problem or its symptoms.
During the Seminar, the Chairperson of MURBS, Hajati Fatumah Nakatudde, launched a web-based Member Biometric Registration System that will be used to register Scheme members in real time. This was aimed at further streamlining the benefits administration process and improve client self service. . The system will biometrically recognise and verify registered members and avail them with information through the Scheme servers. The members will be able to access information about their benefits from anywhere electronically.
A team of developers from Zedek Pro demonstrated the working mechanism of the Member Biometric Registration System and how the registration can be done in real time. According to the Principal Pension Officer, Ms. Susan Khaitsa, “the pilot registration is planned to commence in May 2016 and, in order to speed up the registration process, Members will be required to pre-fill two forms, that is, the Registration Form 0516A and the Dependants and Nominees (Beneficiary) Form 0516B. The forms will be circulated to Members online.”(The forms can be accessed from the links below)
The Secretary, Board of Trustees, Dr. John Kitayimbwa, shared key updates on the progress of the Scheme since last year. “One of the key updates I should bring to your notice is that, the agreements we had with the Service Providers were expiring in November last year [2015]. We extended their contracts to 31st January 2016 so that we comprehensively review the performance and our agreements with them,” he said.
Dr. Kitayimbwa introduced the new Scheme Service Providers to the Members. Stanbic Bank was appointed the new Scheme Custodian, whose role is to receive and keep in safe hands the funds, title deeds, securities and income accruing to the Scheme; PineBridge Investments Ltd retained its role of Fund Manager and GenAfrica Asset Managers Ltd was appointed Fund Manager – the two investors assist the Board of Trustees to make a prudent investment policy, invest the fund subject to the investment policy of the Scheme and manage the Scheme funds; Octagon Uganda Ltd, a Pension Consultancy firm, was appointed as the Scheme Administrator to handle mainly the Accounting and Benefits Administration.
MURBS was established by Makerere University Council under an irrevocable trust to provide pensions and other benefits for University employees who are admitted to membership under the provision of the Trust Deed and Scheme Rules. On 23rd April 2010, Makerere University Retirement Benefits Scheme was registered as a corporate body under the Trustees Incorporation Act, CAP 165, under certificate T. 37561, C.I. NO.670. Following the establishment of the Uganda Retirement Benefits and Regulatory Authority (URBRA) Act of 2011, MURBS was licensed as a Retirement Benefits Scheme under the new Act and holds license number RBS 0005.
MURBS is a Defined Contribution Scheme where both the employees and the employer contribute a percentage of the employees’ monthly salary.
To be entitled to join this Scheme, an individual must be aged at least 18 years but not more than 50 years old and should be appointed under permanent terms of service at Makerere University. All persons who were in University Service by 31st March 2009 were deemed to have joined the Scheme. Persons who were appointed in University service after 31st March 2009 and to-date are enrolled into the Scheme through the due procedures.
Article and Photos by: Mak Public Relations Office
Makerere University on Thursday 15th May, 2025 embarked on a two-day induction exercise spearheaded by the Directorate of Human Resources for newly appointed staff, whose tenures commenced in the 2024/2025 financial year. Held in the Senate Conference Hall, day one of the induction was presided over by the Acting (Ag.) Deputy Vice Chancellor (Academic Affairs)-DVCAA, Prof. Buyinza Mukadasi, who represented the Vice Chancellor, Prof. Barnabas Nawangwe.
Warmly welcoming the new staff, Prof. Buyinza congratulated the ladies and gentlemen upon choosing Makerere University as the workplace for embarking on their next phase of professional growth, self-discovery, and personal development.
“You are joining a century-old institution with a distinguished history and a deeply rooted culture of academic excellence” Prof. Buyinza remarked. “For over 100 years, Makerere has nurtured the intellectual talents of young people and contributed meaningfully to the development of society across the globe,” he added.
The Ag. DVCAA nevertheless tipped that although the onboarding process might overwhelm staff with a lot of information, it is all meant to enable them better understand their roles, the benefits due them, and the unique opportunities that come with working in a world-class institution. Prof. Buyinza therefore encouraged new staff to contribute to the attainment of Makerere’s Mission, connect with the vibrant community they are now part of, enjoy the beautiful greenery the campus affords, and take advantage of professional development as well as well-being promoting programmes.
“At Makerere University, the well-being, safety, and professional growth of our staff are priorities. We are committed to walking this journey with you, and to building an institution that is not only a place of work but a place of inspiration and belonging” Prof. Buyinza reassured.
In his welcome remarks, the Chief Human Resources Officer, Mr. Deus Tayari Mujuni congratulated the new staff upon successfully completing the rigorous process the resulted into their respective appointments. He equally thanked the Vice Chancellor for endorsing the induction ceremony with not only budgetary support but also his representation.
Reiterating the need to appreciate the culture, politics and dynamics of the institution that they are now part of, Mr. Mujuni tasked new staff to take time and appreciate the University Vision, Mission and Objectives, and ensure that they adhere to them. He equally urged new staff to read and understand the various university policies and where in doubt, consult the relevant offices.
Ultimately, he urged staff in the fulfilment of their duties and responsibilities not to disregard their individual goals. “You have aspirations that you must achieve as an individual and I encourage you not to neglect them.”
The University Council as the supreme governing body of the university is also the policy making body, whose Appointments Board oversees the appointment, promotion, removal from service, and discipline of all university staff and officers. The representative of Staff with Disabilities on University Council, Mr. Amon Muteganda Kabahima who chaired the session on University Governance equally congratulated new staff.
“You underwent a tough process full of various competitive stages and we are sure that we have the right people for the various jobs” he commended.
Addressing aspects of University Governance and the key Offices, the University Secretary and Secretary to Council, Mr. Yusuf Kiranda guided that the policies and regulations that govern the institution are broad, numerous, and as such cannot adequately be covered over the two-day induction. He nevertheless encouraged staff to visit the University Policies website and appraise themselves with the details, not only for avoidance of breaching them but also building a culture voluntary compliance.
Mr. Kiranda equally encouraged staff not to ascribe importance and respect to colleagues based on rank and titles but seek to esteem each and every member of staff as an important and vital contributor to the fulfilment of the University’s Vision and Mission.
“We are all equally important in this university; the person whose services the university does not require, it does not hire. As long as you are here, you are required” he explained.
The University Secretary equally called upon staff to familiarize themselves with the law that establishes and governs public universities; the Universities and Other Tertiary Institutions Act (UOTIA). In his presentation, he singled out section twenty-four (24) that outlines the objectives of a public university in Uganda, as well as sections 30 to 32 that prescribe various offices’ responsibilities.
Mr. Kiranda equally encouraged staff to read the Human Resources Manual, Policy and Regulations against Sexual Harassment (PRASH), the Safeguarding Policy, among others. He concluded by reiterating the need for staff to read and appreciate the policies that directly address their welfare and steer clear of negative narratives and discourse, particularly those that seek to weaponize discourse. Other topics to be covered during the two-day induction include; the University Strategic Plan, Financing, Research-led Agenda, Institutional Communication and Public Relations and the Makerere University Retirement Benefits Scheme (MURBS). Topics to be covered on day two include; Legal Instruments, The Collegiate System, Human Resources Management and Functions, as well as Policies on Gender Equality and Sexual Harassment. Others include; Academic Issues, Quality Assurance, Procurement, Audit, and Library Resources.
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