General
MURBS trains Mak staff on budgeting for benefits in preparation for retirement
Makerere University members of staff have been advised to properly budget for their retirement benefits as they prepare to retire. This was during the pre-retirement training organised by the Makerere University Retirement Benefits Scheme (MURBS) on Thursday, 26th April 2018, for Academic, Administrative, and Support staff who are 54 to 60 years old. The well attended training was facilitated by professional trainers from the Scheme Administrator, Octagon Uganda Limited, and an insurance firm, ICEA. During the training participants were introduced to sustainable investment ideas and viable options of securing retirement income.
According to Mr. Joseph Njuguna, a facilitator from Octagon Uganda Limited, workers should always be ready for their retirement as soon as they receive their first appointment letter. Mr. Njuguna said that many workers tend to perceive retirement more as a distant phenomenon than something that will happen soon. For many workers, retirement comes as a shock that is hard to contain. He pointed out that workers who fail to accept the reality of retiring fail to develop a strategic plan for their money. He said that retirees can easily lose all their benefits from late life experimental investments and can suffer personal life mishaps due to poor retirement planning.
“We need to have a solid plan for our desired lifestyle after retirement. We should make a financial plan, engage our legal officers, think of an income that will sustain us and be able to cater for both our insurance and medical needs. Remember that the more we age, the more we are susceptible to suffer from different illnesses. We should not look at our children as some form of insurance strategy. We need to be able to sustain ourselves with a good degree of independence since we have our retirement benefits as a starting point,” he said.
Mr. Njuguna advised workers to always invest in businesses or services in which they have experience or knowledge. “Being a professor at University, does not guarantee that you are a professor in poultry farming. You need to invest wisely, ensure that the business or investment idea you are undertaking is in line with your knowledge, experience and interest in order to avoid severe losses. Before you start a business, know its challenges, he advised. Members were also encouraged to reflect on the need to conserve their energy as much as possible after retirement and maintain healthy lifestyles.
MURBS cautioned its members on the risk of using retirement benefits to invest in a brand new business after retirement. Members were challenged to reflect on important questions like “If a person has not managed any successful business throughout his or her working life, would it be prudent for that person to invest his or her retirement benefits in a new business after retirement?” Is the assumption that one is the best manager of one’s retirement funds a sustainable option?”
From his presentation, Mr. Njuguna demonstrated that about 75% of retirees who are paid lump-sum benefits consume them. He also illustrated that for lump-sum benefits received by retirees and invested in a business, 48% turned out to be unprofitable, 31% had operating profitability, and 21% collapsed.
MURBS introduced members to a new retirement income option of Annuities. An annuity is also referred to as a pension, and it is designed to protect people from the risk of outliving their income. Annuity arrangements allow the retiree to have guaranteed income for life or for a convenient number of years after retirement. This follows a stipulated premium paid by the person seeking the annuity (annuitant) either through prior instalments or in a single payment, such as a member’s accumulated (prescribed portion or all) benefits upon retirement. Annuities are provided by insurance companies which are licensed to provide this service in accordance with the Law.
As he explained the concept of annuities to participants, Dr. John Kitayimbwa, the Board Secretary of MURBS, noted that Life expectancies are getting longer. Dr. Kitayimbwa further observed that the retirement contributions payable to members were increasing and MURBS was now paying its members more money than what other staff of similar rankings in the University used to receive in previous years. He advised that it is important for retirees to continue receiving at least a monthly stipend in the form of an annuity otherwise they could become destitute. The Secretary informed members at the training that MURBS has a clear strategy for member education and training. For this reason, the Secretary urged University staff to embrace MURBS programmes which will improve their financial literacy. The Secretary also said that MURBS engages with its members on a daily basis at the Scheme Office through the Principal Pension Officer.
Mr. Wilber Grace Naigambi, the Board Chairperson, on behalf of MURBS Trustees thanked the facilitators for the informative message that will have a positive impact on staff when preparing for retirement. He thanked the staff for attending the training in big numbers and encouraged them to reflect on the information they had received with seriousness.
Article by: Nabatte Proscovia, 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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