Financial experts have warned those pushing for a 20 percent pay out of the National Social Security Fund (NSSF) savings to its members to cushion them against the Covid-19 economic shocks.
Mr Martin Nsubuga, the chief executive officer, Uganda Retirements Benefits Regulatory Authority warned that globally, it's only Austria that has temporary lent out its equivalent of NSSF savings to its members in the Covid-19 lockdown with expectations paying back.
"No country in the world has paid out its NSSF savings to its members to rescue them in this Covid-19 pandemic lockdown because it's unrealistic.
The warning by Mr Nsubuga was echoed by the NSSF managing director, Mr Richard Byarugaba who insisted that it's a bad idea to respond to the chorus calls by the public and politicians by paying out the 20 percent as this would cause inflation.
Mr Rwakakamba is, among other orders, seeking court to compel the Fund to pay its members at least 20 percent of their savings to cushion them from the economic shocks caused by Covid-19 pandemic and lockdown.
