Nature and Establishment of the Scheme
Makerere University Retirement Benefits Scheme (MURBS), or “the Scheme”, was established by Makerere University (the “Sponsor”) under the irrevocable trust with effect from the 1st day of April, 2009. The Scheme was incorporated under the Trustees Incorporation Act and established in April 2010 and is governed by a Trust Deed (“the Deed”) dated 10 September 2009 (and amended effective 17 April 2015). MURBS is licensed by the Uganda Retirement Benefits Regulatory Authority.
The Scheme is a defined contribution plan and provides, under the Rules of the Scheme retirement benefits for the staff of the Sponsor. The Scheme has a membership of 3,301 and fund amounting to UShs 78 billion as at 30 June 2016.