Uganda Retirement Benefits Regulatory Authority Unveils Strategic Plan FY 2025-2030

• URBRA has developed its third Strategic Plan to deepen sector reforms and expand pension coverage in Uganda.
• The plan aims to increase annual asset growth by 15%, expand sector coverage to 22% of the labor force, and raise the retirement assets-to-GDP ratio to 17%.
• URBRA plans to enhance institutional capacity, improve supervisory efficiency, and promote a robust regulatory framework.

The plan is aligned with Uganda Vision 2040, National Development Plan IV, and the Sustainable Development Goals.

The Uganda Retirement Benefits Regulatory Authority (URBRA) has developed its third Strategic Plan, aimed at deepening sector reforms and expanding pension coverage in Uganda. The plan is aligned with the country's Vision 2040, National Development Plan IV, and the Sustainable Development Goals. URBRA seeks to promote an inclusive, secure, and sustainable Retirement Benefits Sector by addressing key retirement needs.

The regulatory authority has identified several areas for improvement, including strengthening regulation and supervision, improving supervisory efficiency, and enhancing operational efficiency. To achieve these goals, URBRA plans to enhance sector oversight, ensure compliance, and protect member interests through a proactive, risk-based regulatory approach.

URBRA has set ambitious targets for the next five years, including increasing annual asset growth by 15%, expanding sector coverage to 22% of the labor force, and raising the retirement assets-to-GDP ratio to 17%. The authority also aims to improve stakeholder satisfaction to 90% through strengthened institutional capacity, legal reforms, digital transformation, and inclusive policy implementation.

The targets are designed to promote sustainable socio-economic transformation in Uganda by harnessing retirement savings. URBRA's strategic plan is expected to have a significant impact on the country's economy, particularly for informal workers who currently lack access to pension coverage.

URBRA plans to modernize standards and enforcement through a robust regulatory framework. The authority will focus on internal process optimization, ICT-driven operations, governance, staff capacity building, and streamlined service delivery. This will enable URBRA to improve supervisory efficiency and effectiveness, ultimately leading to better protection of member interests.

The development of URBRA's strategic plan is a critical step towards achieving Uganda Vision 2040, which emphasizes the importance of social security in promoting economic growth and reducing poverty.

Lawyers and compliance officers should watch for the potential impact of URBRA's strategic plan on pension coverage and retirement savings in Uganda, particularly in relation to informal workers, and consider advising clients on the implications of these developments for their investments and business operations.

Source: Original reporting via URBRA Strategic Planning FY 2025/26–2029/30