Finance Minister Henry Musasizi has urged the Uganda Retirement Benefits Regulatory Authority (URBRA) to leverage the country’s growing retirement savings to drive investment and accelerate Uganda’s Tenfold Growth Strategy.
Speaking during a meeting with the URBRA Board and Management at the Ministry of Finance, Musasizi said the retirement benefits sector, whose assets have grown to approximately Shs36 trillion, should partner with government to ensure the savings are invested in productive sectors of the economy.
He emphasized that the long-term nature of pension funds makes them an important source of patient capital needed to finance sustainable economic development.
“The retirement benefits sector, whose assets have grown to about Shs36 trillion, should focus on partnering with government to use this patient capital to deliver the Tenfold Growth Strategy. The savings should be well managed and deployed in the productive sectors of the economy,” Musasizi said.
The Minister also tasked URBRA with ensuring the successful implementation and effective regulation of the new Public Service Pension Scheme, saying it will play a critical role in strengthening Uganda’s retirement benefits sector.
In addition, he urged the regulator to continue engaging stakeholders to promote voluntary retirement savings among Ugandans.
The meeting was attended by URBRA Board Chairman Henry Balwanyi Magino and Chief Executive Officer Martin Anthony Nsubuga.
Balwanyi said the Authority’s 2025/26–2029/30 Strategic Plan is built around the theme, “Harnessing Retirement Savings for Sustainable Socio-economic Transformation,” and aligns with government’s ambition to achieve tenfold economic growth.
He noted that expanding domestic savings is essential to financing Uganda’s development agenda.
“Every shilling saved for retirement is not only securing the future of a Ugandan worker—it is also building the capital that finances Uganda’s future,” Balwanyi said.
He added that a stronger pensions sector would boost domestic savings, deepen capital markets, increase investment, create jobs and support faster economic growth.
