Vision, Mission and Values

Vision:
A Society of dignified retired members of the Scheme.

Mission:
Provision of quality retirement benefits services through efficient management and investment of Members’ funds.

Values:
The Core values of Parliamentary Pension Scheme (PPS) are:
Trust
Innovativeness
Teamwork
Integrity
Diligence
Accountability

Our History
The Scheme started operations in July 2008 under the Department of Finance and Administration of Parliamentary Commission. Membership started with Members of Uganda’s Seventh Parliament and staff who existed in the Commission on permanent and pensionable terms as at 1st July 2001.

The first Board was appointed in 2007 chaired by the Chairperson of the Parliamentary Committee of National Economy, Hon. Ibrahim Kaddunabbi.

The Pension Scheme Secretariat was established in 2009 with the engagement of the Pensions Manager. The 1st task was to establish the Member Information Database and payout benefits due. The Secretariat has since grown to 12 members of Staff.

The Pension Scheme Act was amended in 2010 and again in 2015 to address key aspects such as the composition of the Board and status of the Scheme as a Body Corporate. Parliament in 2012 also passed the Scheme Regulations to operationalize the Act.

The Scheme held its first AGM in 2013 after the establishment of the the Member Information Database and preparation of the first books of account.

The Parliamentary Pension Scheme (the Scheme) was established through an Act of Parliament in 2007 as a contributory Hybrid Cash Balance retirement benefits plan for Members of Parliament and staff of Parliamentary Commission.
The mandate of the Scheme is to provide pension and other retirement benefits to Members of Parliament and staff of Parliamentary Commission on permanent and pensionable terms and relief of the dependents of the deceased participants.

The Scheme is governed by the Board of Trustees appointed in accordance with Section 18 of the Parliamentary Pensions Act, 2007 and regulated by URBRA.

Services

Benefits Administration services

The Scheme receives members’ contributions, computes and pays out Benefits to its members as prescribed in the PPS Act. Benefits paid out include Retirement Benefits, Withdrawal Benefits and Death Benefits.

Investment of Members’ Funds

The Scheme invests members’ funds to enhance the future benefit of the member in accordance with the PPS Act. Investment of members’ funds is a function of the Board of Trustees delegated to Asset Managers as stipulated in the URBRA Act.

Reporting Services

The Scheme prepares regular reports for its stakeholders; Quarterly statements to members

Quarterly reports to the Board.
The Annual report presented at the AGM
Bi-Annual report tabled before Parliament
Monthly and Quarterly reports to URBRA

Information to Members

The Pension Scheme regularly informs members about their Scheme through various media like Email, SMS and written communication in addition to having a quarterly help desk to physically engage with the members.

Members Sensitization/Education
Members are sensitized on Retirement planning, Health, Investments and savings in order to prepare them for life after formal employment.