Makerere University Retirement Benefit Scheme (MURBS) has presented its performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders on 21^st of October in the Telepresence Centre, Senate building. MURBS which is a Mandatory Employer-Based Scheme was established by Makerere University under an irrevocable trust effective 1^st April 2009 to provide retirement benefits to employees of Makerere University.

Council applauds MURBS Performance

In her remarks at the presentation, the Chairperson of the University Council, Mrs. Lorna Magara, commended the Scheme’s steady progress and reaffirmed the Council’s commitment to safeguarding staff welfare. She noted that MURBS has grown into a trusted, transparent, and professionally managed scheme that continues to strengthen confidence among staff. Mrs. Magara praised the Board of Trustees for their prudent management and governance, describing their work as not merely financial stewardship but the protection of the hopes and futures of Makerere families. She urged continued focus on member education, digital service delivery, and sustainable fund growth, emphasizing that the ultimate goal is to build a lasting legacy of trust and financial wellbeing for all university employees.

MURBS demonstrates liquidity and resilience amid a volatile economy

Representing the Vice Chancellor, the Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, commended the Makerere University Retirement Benefits Scheme (MURBS) for its continued growth, accountability, and prudent management. She applauded the Scheme’s record fund value of UGX 475 billion and its unqualified audit opinion from KPMG, describing these milestones as clear evidence of transparency and sound governance. Prof. Ssali reaffirmed Makerere University’s full commitment as the Scheme’s sponsor, noting the progress made in clearing historical arrears and supporting MURBS operations. She praised the Board’s disciplined investment strategy—particularly its diversification into unit trusts and near-cash assets—which has enhanced liquidity and resilience amid a volatile economy. Highlighting MURBS as a model of good governance and accountability, Prof. Ssali emphasized that a reliable retirement scheme not only secures staff futures but also strengthens motivation, productivity, and institutional excellence.

Embrace digital transformation – URBRA urges

From Uganda Retirement Benefits Regulatory Authority (URBRA), the Manager Market Conduct, Mr. Mark Lotukei commended MURBS for its continued commitment to compliance, member education, and sectoral excellence. He highlighted that the Authority has been focusing its trainings on strengthening trustees’ capacity, with recent sessions covering strategic tax planning to help schemes minimize liabilities and safeguard members’ funds. Mr. Lotukei further announced upcoming trainings on benefits administration, stakeholder roles, and the contribution of pension funds to infrastructure and economic development. Emphasizing the evolving nature of the pension landscape, he urged trustees to embrace digital transformation, improve communication with members, and promote sustainable and innovative investment strategies. He concluded by reaffirming URBRA’s commitment to supporting MURBS and other schemes, assuring stakeholders of the Authority’s openness to continued collaboration and guidance.

Fund Value Hits Record UGX 475 billion

In his presentation on the performance, the Chairperson of the Board of Trustees, Dr. Michael Kizito, highlighted the Scheme’s continued growth, prudent financial management, and commitment to transparency. He reported that MURBS’ total assets had risen to UGX 475 billion, up from UGX 409 billion the previous year, reflecting strong investment performance and effective governance. Dr. Kizito commended the University management for timely remittances and reaffirmed the Board’s focus on sound risk management, diversification, and member satisfaction. He acknowledged the dedication of the trustees, staff, and service providers, noting that their collective effort has positioned MURBS for sustainable success. Looking ahead, he emphasized the Scheme’s intention to strengthen alternative investments and optimize operations to deliver even greater value to members and stakeholders.

The presentation of the performance of the scheme is one of the activities leading to the Annual General Meeting and it is done to management and the Sponsor of MURBS. The presentation, which attracted several key stakeholders including members of the University Council and representatives from Stanbic Bank and Old Mutual, concluded with an engaging question-and-answer session moderated by Dr. Deus Kamunyu Muhwezi. The session provided an opportunity for participants to seek clarity on the Scheme’s performance, governance practices, and investment strategies, fostering transparency and open dialogue between the MURBS leadership and its partners. MURBS is licensed by the Uganda Retirement Benefits Regulatory Authority (License No. RBS.0005).