Outgoing Chairperson of MUBS RBS, Assoc. Prof. Rachel Mindra Katoroogo, Principal Prof. Moses Muhwezi, and Board of Trustees Member Ms. Shamim Nantumbwe at the 12th Annual General Meeting

The Makerere University Business School Retirement Benefits Scheme (MUBSRBS) has registered remarkable growth since its establishment in 2013, says the Outgoing Chairperson, Assoc. Prof. Rachel Mindra Katoroogo, during the scheme’s 12th Annual General Meeting (AGM) held on November 6, 2025, at MUBS- Main Campus, Nakawa.

Assoc. Prof. Mindra, who also serves as MUBS Ag. Deputy Principal reported that the scheme’s membership increased from 1,108 to 1,795, while total savings grew by 84% from UGX 3.2 billion to UGX 19.8 billion between 2015/16 and 2023/24. Additionally, the scheme’s assets rose by 32.9%, from UGX 14.4 billion to UGX 19.8 billion, reflecting strong performance and consistent member confidence. “We appreciate the School’s payment of UGX 734 million arrears and the institution’s commitment to the 2% savings increase.

“During the last financial year, the Scheme achieved transformative growth by completing arrears allocation in December 2024, launching a Member Portal Utilization initiative in July 2025, and producing short instructional videos to guide members in using the online portal.

“Let us ensure that everyone who leaves MUBS does so with pride and gratitude, knowing that their years of service have been honoured with dignity,”

Prof. Moses Muhwezi.

Despite these achievements, challenges remain, including delayed payments to departing members and reluctance to designate beneficiaries,” she reported.

She attributed the scheme’s success to effective investment decisions, prudent management, and strategic leadership by the Board of Trustees. “The Board’s work goes beyond financial stewardship; it protects the hopes and futures of staff,” she noted, urging continued focus on member education, digital service delivery, and sustainable fund growth to ensure a lasting legacy of trust and financial wellbeing for all employees.

MUBS RBS members at the 12th Annual General Meeting

The Chairperson, the Principal, Prof. Moses Muhwezi, praised the Board for professionalism and transparency, encouraging staff to increase their savings.

“At MUBS, we believe everyone deserves a retirement that honours their contribution to the growth and excellence of this institution,” he said.

He thanked the MUBS Council for approving a 2% employer contribution for all staff and lauded the Board’s efforts to foster confidence among members.

“You have managed the scheme very well by creating awareness and building trust among members. Please continue with the good work,” he added. Prof. Muhwezi also reminded staff that saving is a long-term commitment.

“Your financial journey is shaped not only by what you earn but also by how you think, act, and behave around money. Let us ensure that everyone who leaves MUBS does so with pride and gratitude, knowing that their years of service have been honoured with dignity.”

Established under an irrevocable trust, MUBSRBS is a mandatory employer-based scheme designed to provide retirement benefits to MUBS employees.