License of a trustee of a retirement benefits scheme

To manage a retirement benefits scheme<br>

  • Purpose: To manage a retirement benefits scheme<br>
  • Application Fees: (a) Individual trustee - 50,000 Ugx<br>(b) Corporate trustee - 250,000 Ugx<br>
  • License Fee: (a) Individual trustee - 200,000 Ugx<br>(b) Corporate trustee - 1,000,000 Ugx
  • Maximum Processing Time: 3 Months
  • Related Websites: <a href="http://urbra.go.ug/" target="_blank">www.urbra.go.ug</a>
  • Validity: 1 Year
  • Contact Office: <a href="http://urbra.go.ug/" target="_blank">Uganda Retirement Benefits Regulatory Authority</a>
  • Renewal Fee: (a) Individual trustee - 250,000 Ugx (b) Corporate trustee - 1,250,000 Ugx
  • License Type: License
  • Legal Basis: The Uganda Retirement Benefits Regulatory Authority Act, 2011. The Uganda Retirement Benefits Regulatory Authority (Licensing of Trustees) Regulations, 2012
  • <ul><li>A certified copy of the certificate of incorporation in case of a corporate trustee.</li><li>A certified copy of the memorandum and articles of association in case of a corporate trustee.</li><li>A statutory declaration sworn by the applicant verifying the facts set forth in the application.</li><li>Certified copies of certificates or any other documents which the applicant may submit as evidence of qualifications, professional skills and experience relevant for performing the functions of a trustee.</li></ul><b>Note:</b> The licensed Retirement Benefits Schemes are required by the URBRA Act and Regulations to pay a compulsory annual levy amounting to 0.25% of total asset value for schemes which receive voluntary contribution and 0.05% of total asset value for schemes which receive mandatory contributions.<br>