Social Security Fund Scheme In Enhancing The Socio Economic Development Of Rwanda (Case Study: Ssfr Headquarter Kigali Rwanda)

Abstract Social security development is one of the measures that have been adopted by developing countries to overcome poverty related challenges. The relevancy of social security in promoting economic growth and poverty reduction stems from its roles in saving mobilization, The objectives of the research are To investigate the benefits paid to the retirees at the time of retirement or death; 1. To find out how the contributor’s funds are invested towards socio-economic development of the country; 2. To find out how the contributor’s funds are invested towards socio-economic development of the country; 3. Investigate the impact the SSFR has on individuals. By using different methods and techniques to verify the roles played by the SSFR in enhancing social economic Development of Rwanda, the researchers realized that due to the fact that SSFR benefits trends in increasing in positive way, SSFR pays the retirees at the time of retirement. Apart the benefits received by the pensioners, enhancing the socio-economic development of the Country, SSFR participate in different social responsibilities and contribute to the welfare of the population. The contributed amount in social responsibilities of the SSFR is 96m Rfw. From Real estate projects SSFR created job in several dimension and the researcher discover that 2.368 have created to unemployed. It is recommended here that SSFR should revise the current law governing benefits and thereby calculates benefits with interests instead of dumping the money in the coffers which is not for the benefit of the contributor, SSFR should design project that aligns with the middle income earners; SSFR should give advance to pensioners in order to start project at their energetic time. Government should reinforce measures for total adhesion to pension schemes for all workers in formal sector, and in informal sector.

TaMe of Contents Page

Declaration

Approval

Dedication

Acknowledgements v

Abstract

List of abbreviations XI

List of tables XII

List of graphs xiii

Chapter

One THE PROBLEM AND ITS SCOPE 1

1.1. Background to the study 1

1.2. Background of the case study 4

1.2. Statement of the problem 4

1.3. Purpose of the study 4

1.4. Objectives of the study 4

1.5. Research questions 5

i.6. Scope of the study 5

1.7. Significance of the study 5

1.8. Theoretical framework 6

Pension (old age benefit) 6

Lump-sum allocation 6

Free medical care 7

vi

Daily sickness allowances ~

Incapacity social security benefits 8

Incapacity lump sum benefits 8

Funeral lump assistance 8

1.9. Conceptual framework g

lwo REVIEV4I OF REL.ATED LITERA1LJRE.......................,.t..........,,....,, 11

2.1.Overview 11.

2.2. Review of relevant literature review 11

2.3 Development 11

2.4 Goals and means of development 12

2.5 Economic growth 12

2.6 Sustainable development 13

2.7. Measuring development 14

2.8 Socio-development indicators 14

2.9. Economic development indicators 15

2.10 Meaning of social security 15

2.11. Saving: social security 16

2.12. Social security in other countries 17

chile 17

Usa vs japan 17

Mauritius 17

Social security in uganda 18

Social security in rwanda 18

Investment .19

Portfolio

Return on

investment

investment .

19

Three RESEARCH METHODOLOGY 20

3.1. Overview 20

3.2. Research design 21

3.3. Study population 21

3.4. Sampling size 21

3.5. Sampling procedure 21

3.6. Research instruments 22

3.6.1. Primary sources of data 22

3.6.2. Secondary sources of data 22

3.7.VALIDrFY AND RELIABILiTY 23

3.8. Data collection procedures 24

3.9 Data analysis 24

3.9.1 Quantitative data analysis 25

3.9.2 Qualitative data analysis 25

3.10 Ethical considerations 26

3.11 Limitation of the study 26

Four PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

4.1. Overview 27

4.2. Analysis of characteristic of respondents 27

4.3 Analysis of beneficiaries affiliated in ssfr 30

4.4 analyzing the importance of being insured in ssfr .30

4.5. Analysis if benefits are paid on time 31

4.6 Investigation of the benefits paid to the retirees at the time of retirement . ..34

4.7. To find out how the contributions funds are invested towards the socio

economic development of rwanda 36

4.7.1 Investment vehicles at ssfr 37

4.7.2. Permissible investments 37

4.7.3. Permission 38

4.7.4. Controls 38

4.7.5. SSFR investment restrictions 39

4.7.6 Holding limits 39

4.8 Real estate projects 46

4.9. Investigation impact the SSFR has on individuals 46

Five FINDINGS, CONCLUSIONS, RECOMMANDATIONS

Findings

Conclusion

Recommendations

References

Appendices