By KT Reporter
As part of its broader efforts to equip its workforce with financial literacy skills and promote preparedness for life after employment, the Kampala Capital City Authority (KCCA) has intensified sensitisation on early retirement planning among its staff.
During a financial literacy and pre-retirement training held on Wednesday at the Imperial Royale Hotel, workers were urged to embrace early financial planning and a positive mindset towards retirement, as part of efforts to secure their future beyond formal employment.
The training brought together teachers, health workers, and administrative staff, creating a platform for practical discussions on securing life beyond formal employment.
Speaking at the training, the KCCA Deputy Executive Director, Benon Kigenyi, said although retirement is often perceived with fear, it should instead be approached with preparation and purpose.
“Retirement is scary, but it is important to plan and have a mindset change,” he said, adding that workers should view retirement as a continuation of life rather than an end to productivity.
Kigenyi advised employees to prioritise work-life balance and begin preparing for retirement early to ensure a smooth transition.
Officials from the National Social Security Fund Uganda (NSSF) encouraged workers to take advantage of voluntary savings schemes to strengthen their financial security.
The NSSF Central Region Manager, Ivan Twehamye, said individuals can start saving with as little as Shs5,000 under the funds Smartlife Flexi initiative, a voluntary, goal-based savings plan that allows contributors to save towards specific targets over a chosen period.
He explained that the scheme offers flexible deposit and withdrawal options, with savings earning a competitive daily return credited monthly. Members can remit contributions at their convenience, daily, weekly, monthly, quarterly, or annually, with a minimum contribution of UGX 5,000 per transaction.
Twehamye cautioned that as individuals grow older, their earning capacity reduces, making it necessary to invest wisely.
“When you get beyond 40, the time to make money becomes smaller. You must be careful where you put your money, especially after 45,” he said.
He added that Uganda has about 60 licensed savings schemes, urging workers to make informed decisions when choosing where to save or invest their money.
Participants were also advised to strengthen social networks, including family and community ties, which are essential for support during retirement.
The director of human resource and administration at KCCA, Grace Akullo, emphasised the need for consistent saving habits among workers.
“Saving is key and should be done continuously,” Akullo said.
The training is part of KCCA’s broader efforts to equip its workforce with financial literacy skills and promote preparedness for life after employment.
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