By Ben Ssebuguzi
Social security of a country is one of the yardstick to measure if that country caters for lives of it’s working citizens.The stronger the fund,the stronger the welfare of it’s citizens. In East Africa,Nssf is one of the biggest with total Assets worth Ugx 15 trillions.
What is social security?
Social security may be defined as any programme of social protection established by legislation, or any other mandatory arrangement, that provides individuals with a degree of income security when faced with the contingencies of old age, survivorship, incapacity, disability, unemployment or rearing children. It may also offer access to curative or preventive medical care.
As defined by the International Social Security Association, social security can include social insurance programmes, social assistance programmes, universal programmes, mutual benefit schemes, national provident funds, and other arrangements including market-oriented approaches that, in accordance with national law or practice, form part of a country’s social security system.
A universal right
The first social security programmes based on compulsory insurance were established in Europe in the late-19th century. It was during the 20th century, however, that national social security programmes developed more widely around the globe, not least as a result of decolonisation and the institution of new independent states after World War Two. The development of social security has also been supported by various international conventions and instruments, and the recognition of social security as a basic human right was enshrined in the 1948 Universal Declaration of Human Rights. In a few countries, for example Germany and Brazil, social security is a right guaranteed by the Constitution.
Today, most countries have some type of social security system. Worldwide, the most common type of programme is for old-age, disability, and survivors’ pensions, followed by programmes for benefits for work injuries and occupational diseases, sickness and maternity, family allowances and unemployment.
It is therefore important for government to put in place good laws and policies that can help to protect NSSF and it’s customers.
Ben Ssebuguzi is an economist, entrepreneur and Secretary General Uganda Poor Youth Movement.