ROLE OF SOCIAL SECURITY FUND SCHEME
IN ENHANCING THE SOCIO-ECONOMIC DEVELOPMENT OF RWANDA.
(CASE STUDY: SSFR HEADQUARTER KIGALI
RWANDA)
BY
RUSIBANA CLAUDE
MBA/19037/72/DF
A Thesis submitted to the School of Post
Graduate Studies in Partial Fulfilment for the Award of
a
Master of Business Administration (MBA)
degree
of Kampala International University.
March 2010
Table of Contents
Pages
TABLE OF CONTENTS
I
DECLARATION
V
APPROVAL
VI
DEDICATION
VII
ACKNOWLEDGEMENTS
VIII
ABSTRACT
IX
LIST OF ABBREVIATIONS
XI
LIST OF TABLES
XII
LIST OF GRAPHS
XIII
CHAPTER ONE
1
INTRODUCTION
1
1.1. BACKGROUND TO THE STUDY
1
1.2. BACKGROUND OF THE CASE
STUDY
3
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
4
I.6. SCOPE OF THE STUDY
5
1.7. SIGNIFICANCE OF THE STUDY
5
1.8. THEORETICAL FRAMEWORK
5
PENSION (OLD AGE BENEFIT)
5
LUMP-SUM ALLOCATION
6
FREE MEDICAL CARE
6
DAILY SICKNESS ALLOWANCES
7
INCAPACITY SOCIAL SECURITY BENEFITS
7
INCAPACITY LUMP SUM BENEFITS
7
FUNERAL LUMP ASSISTANCE
8
1.9. CONCEPTUAL FRAMEWORK
8
CHAPTER TWO LITERATURE REVIEW
10
2.1. OVERVIEW
10
2.2. REVIEW OF RELEVANT LITERATURE
REVIEW
10
2.3 DEVELOPMENT
10
2.4 GOALS AND MEANS OF DEVELOPMENT
11
2.5 ECONOMIC GROWTH
11
2.6 SUSTAINABLE DEVELOPMENT
12
2.7. MEASURING DEVELOPMENT
12
2.8 SOCIO-DEVELOPMENT INDICATORS
13
2.9. ECONOMIC DEVELOPMENT INDICATORS
14
2.10 MEANING OF SOCIAL SECURITY
14
2.11. SAVING: SOCIAL SECURITY
15
2.12. SOCIAL SECURITY IN OTHER
COUNTRIES
15
CHILE
15
USA VS JAPAN
16
MAURITIUS
16
SOCIAL SECURITY IN UGANDA
16
SOCIAL SECURITY IN RWANDA
17
INVESTMENT
18
RETURN ON INVESTMENT
18
PORTFOLIO INVESTMENT
18
CHAPTER THREE RESEARCH METHODOLOGY
19
3.1. OVERVIEW
19
3.2 SOURCES AND DATA COLLECTION
19
3.3.1. PRIMARY SOURCES OF DATA
20
3.3.2. SECONDARY SOURCES OF DATA
20
3.4. RESEARCH DESIGN
21
3.5. STUDY POPULATION
21
3.6. SAMPLING TECHNIQUE
21
3.7. DATA COLLECTION INSTRUMENTS
22
3.8. DATA COLLECTION PROCEDURES
22
3.9 DATA ANALYSIS
22
3.10 QUANTITATIVE DATA ANALYSIS
23
3.11 QUALITATIVE DATA ANALYSIS
23
3.12 ETHICAL CONSIDERATIONS
24
3.13 LIMITATION OF THE STUDY
24
CHAPTER FOUR PRESENTATION AND ANALYSIS OF
RESEARCH FINDINGS
25
4.1. OVERVIEW
25
4.2. ANALYSIS OF CHARACTERISTIC OF
RESPONDENTS
25
4.3 ANALYSIS OF BENEFICIARIES AFFILIATED IN
SSFR
28
4.4 ANALYZING THE IMPORTANCE OF BEING
INSURED IN SSFR
28
4.5. ANALYSIS IF BENEFITS ARE PAID ON
TIME
29
4.6 INVESTIGATION OF THE BENEFITS PAID TO
THE RETIREES AT THE TIME OF RETIREMENT
31
4.7. TO FIND OUT HOW THE CONTRIBUTIONS
FUNDS ARE INVESTED TOWARDS THE SOCIO-ECONOMIC DEVELOPMENT OF RWANDA
34
4.7.1 INVESTMENT VEHICLES AT SSFR
35
4.7.2. PERMISSIBLE INVESTMENTS
35
4.7.3. PERMISSION
36
4.7.4. CONTROLS
36
4.7.5. SSFR INVESTMENT RESTRICTIONS
36
4.7.6 HOLDING LIMITS
37
4.8 REAL ESTATE PROJECTS
42
4.9. INVESTIGATION IMPACT THE SSFR HAS ON
INDIVIDUALS
43
4.9. ANALYSIS OF THE ORGANIC LAW WHICH IS
APPLICABLE FOR PENSION OF 2003 MODIFYING THE LAW OF 1974 CONVENIENT TO
PENSIONERS.
47
CHAPTER FIVE CONCLUSIONS AND
SUGGESTIONS
49
5.1. CONCLUSION
49
5.2. SUGGESTIONS
49
REFERENCES
51
APPENDICES
53
MAP OF RWANDA
54
MAP OF GASABO DISTRICT
55
APPENDIX 3: QUESTIONNAIRE FOR THE TOPIC OF
STUDY
56
SECTION A. SOCIAL CHARACTERISTICS OF THE
RESPONDENTS.
56
SECTION B. QUESTIONNAIRE ADRESSED TO THE
SSFR BENEFICIARIES AND STAFF
57
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