Records from the Rwanda Social Security Board (RSSB) indicate that so far over Rwf 300 billion has been raised since the merger last year between the Social Security Fund of Rwanda and Rwanda Medical Insurance Company (RAMA).
Afrique Ramba, the Deputy Director General of RSSB confirmed to Sunday Times last week.
He said the new figure represents a steady increase in investments compared to Rwf 143.7 billion invested in 2009 and 286.6 billion late in May, 2012.
Information indicates that according to the board’s investment policy, the investments are intended to act as a framework in which money remitted by its clients can be successfully invested for profit.
According to Innocent Nyirishema, the Director of Contributions at RSSB, despite the amount raised, the body is still facing challenges of employers who do not remit deducted funds.
“Paying pension is a must. The law indicates that the employer should pay pension to whomever he or she employs without basing on what he or she does or the duration,” Nyirishema explained.
He added that there was a misconception that an employee is paid the pension when he or she is permanent or he or she works in offices.
“There are different cases, employers can be honest hundred percent, some cases are caused by the capacity of institutions who are not able to pay, others are unwilling. We can’t tell who and who but we have cases in general,” he added
Workers’ Trade Union (CESTRAR) confirmed that employers have continued to harass and fire employees unfairly, though Rwanda is a signatory to international convention guaranteeing workers’ rights.