There are 15 million Ugandans that go to work every single day but when it comes to saving for retirement only 2 million have a retirement savings account. Mazima Retirement Plan set out to provide everyone an opportunity to open and fund an Individual Retirement Account (IRA). Mazima Retirement Plan is the trading name of Mazima Voluntary Individual Retirement Benefits Scheme (MVIRBS). Mazima Retirement Plan is registered as an irrevocable trust (Member Owned organization) in Uganda and licensed by Uganda Retirement Benefits Regulatory Authority (URBRA) under License Number RBS 066 under the URBRA Act of 2011, targeting voluntary long term savingsMazima Retirement Plan is a Uganda’s largest savings platform working in partnership with Housing Finance Bank as the scheme’s custodian and African Alliance Limited as Fund Managers. The Fund is available on Airtel and MTN Mobile Money platforms to easy collection of member savings but standing orders and direct deposits are accepted.
Structure of the Fund Image.Mazima Retirement Plan is properly grounded and capable of handling a big number of savers without occasioning undue risk to member funds. Mazima has state of the art IT infrastructure, Savers can log in any time to see their balances and savings records anytime . The savings attract interest on annual basis depending the prevailing market rates benchmarked against the Central Bank Rate (CBR Mazima Retirement Plan has already mobilized over 1000 Ugandans with Savings of about UGX 1 billion.
To those who do not expect their children to be their retirement insurance policy.
-LIVINGSTONE MUKASA, CEO
Advice on Saving
Aim to save at least 10 percent of all your income and don’t despise small amounts, the earlier you start saving in life,the more your money will work for you to afford you a comfortable retirement.