Pension

Find out all you need to know about pension in Uganda with information on pension policy, social security retirement pensions, pension for employees etc.

What is pension?

It is a fixed sum paid regularly to a person, usually following a retirement from service.

What are the various types of pension plans?

There are mainly two pension plans and they include: defined benefit or DB and defined contribution or DC.

  • Defined benefits are pension plans that pay an employee for life. This is the case with public service in Uganda.
  • Defined contributions are pension plans that have no guarantee of a paycheck for life. An employee only gets back what himself or herself and his or her employer contributed plus accrued interest.

It is a fixed sum paid regularly to a person, usually following a retirement from service.

What are the various types of pension plans?

There are mainly two pension plans and they include: defined benefit or DB and defined contribution or DC.

Cite this page © WageIndicator 2018 - Mywage.ug - Pension