1. Introduction to Oxfam in Uganda

Oxfam is a global movement for change that empowers people to create a secure future, just and free from poverty. We believe everyone has a right to safety, security, a livelihood, and a say in decisions that affect them. In Uganda, our Vision is to see Uganda free of inequality and Injustice: A society where people, particularly women and young people, claim and exercise their rights and responsibilities and influence decisions that affect their lives. Our work is guided by the Country Strategic Framework (CSF) (2021-2030), organized around four themes: Governance and Accountability, Resilient Livelihoods, Humanitarian preparedness and response and Gender Justice and Women's Rights. All the themes work towards influencing policy and practice, youth and women empowerment, inclusive participation in decision-making at various levels, and capacity strengthening of national and local actors.

2. Background

Oxfam in Uganda is in the process of establishing a provident fund for all its full-time employees covered under the National Staff Terms and Conditions (NSTC). The provident fund will be implemented retroactively effective April 1st, 2024, and aims to provide long-term financial security for Oxfam employees, enhancing employee well-being and retention by ensuring that financial support is available to employees upon their separation from Oxfam, per the applicable terms.

Oxfam advocates for economic justice and fair treatment of workers. A provident fund aligns with this ethos by providing employees with a dignified form of financial security and showcases Oxfam’s commitment to ethical employment practices.

Oxfam invites qualified and experienced service providers to express their interest in the provision of provident fund management services, ensuring effective administration, compliance with relevant national laws and regulations and strategic investment management.

3.    Scope of Services

The selected service provider will be expected to provide the following services.

a. Fund Management
•    Administer the Oxfam in Uganda Provident Fund per the Uganda Retirement Benefits Regulatory Authority Act 2011, including relevant laws and regulations.
•    Oversee the accurate and timely processing of the provident fund contributions as per the contribution structure.

b.    Investment and Risk Management
•    Develop and implement an investment strategy aligned with Oxfam in Uganda’s financial objectives while managing risks appropriately and ensuring cost-effectiveness. 
•    Monitor and report on investment performance, establishing clear benchmarks and targets.
•    Assess and mitigate risks associated with the investment of the provident fund, ensuring that the portfolio is diversified and resilient to market fluctuations.

c.    Governance and Reporting
•    Establish a robust governance structure to ensure ongoing compliance with all relevant regulations.
•    Prepare and publish annual reports in line with International Financial Reporting Standards (IFRS)
•    Facilitate regular actuarial assessments to ensure the long-term sustainability of the fund.
•    Implement and monitor governance and compliance frameworks.

d.    Provident Fund Development
•    Contribute to the development of the provident fund policies/guidelines and ensure they meet the evolving needs of Oxfam and its employees

e.    Employee Communication and Support
•    Issue regular statements to employees summarizing contributions, and current fund balances.
•    Facilitate employee inquiries through close coordination with Oxfam’s HR department.
•    Ensuring the individual employee has online access to their portfolio and savings.

f.    Fund Disbursement
•    Manage the timely disbursement of benefits to employees upon separation from Oxfam in Uganda, ensuring compliance with the fund’s policies.
•    Establish a transparent process for employees to claim their benefits, including guidance on required documentation and timelines.

g.    Legal and Regulatory Vigilance
•    Stay informed about legal and regulatory changes affecting provident funds and advise Oxfam in Uganda on necessary adjustments to ensure compliance.

4.    Deliverables

•    A detailed fund management plan, including a strategic approach to investment and compliance.
•    Quarterly and annual performance reports.
•    Regular member statements.
•    Efficient administration of contributions and disbursements.
•    Comprehensive communication and support services for employees coordinated through HR.
•    Provident Fund policy and guidelines.
•    Fund Factsheet.
•    Adherence to National Provident Fund Regulations: Ensure compliance with Uganda’s regulatory framework for provident funds, including tax laws, pension regulations, and any relevant financial reporting standards.
•    Audit and Governance Reporting: Coordinate periodic audits of the provident fund and ensure that the fund’s governance structure is compliant with both Oxfam’s and local legal requirements.
•    Financial Reporting: Prepare regular financial statements and reports that track the performance, health, and growth of the fund. These reports must be transparent and meet both internal and external reporting requirements.
•    Stakeholder Engagement: Provide clear and detailed updates on the fund’s progress to Oxfam’s management and stakeholders. Ensure that key stakeholders understand the fund’s long-term sustainability and alignment with organizational goals.

5.    Qualifications and Experience

The service provider must demonstrate:
•    Proven expertise and experience of at least 5 years in managing provident or pension funds. 
•    Experience working in Uganda, with a strong understanding of the local economic, political, and regulatory environment.
•    Experience with Ugandan regulatory compliance, particularly the Uganda Retirement Benefits Regulatory Authority Act 2011.
•    Registration with the Uganda Retirement Benefits Regulatory Authority.
•    Strong capabilities in investment and risk management.
•    Ability to provide detailed and accurate reporting and robust customer support services.
•    Professional certifications such as Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA) will be highly valued.
•    Advanced courses or certifications in Project Management or Fund Management are an advantage.
•    Demonstrated experience in managing funds of diverse clients including International NGOs.

6.    Contract Duration

Three (3) years with the possibility of extension based on performance.

7.    Submission of Proposals

Qualified service providers/ tenderers are invited to submit a technical proposal detailing:

  • Understanding of the undertaking (demonstrate a clear understanding of the scope of services)
  • Methodology and approach to managing the Provident Fund (Investment strategy, Systems, processes/procedures, Risk management, Governance and reporting structure etc.)
  • Experience and competence in managing provident fund services (Years of experience managing provident funds in Uganda, Client portfolio including at least three references from current and past clients) 
  • Team experience and qualification (at least 5 years in fund/pension management, CVs and relevant qualifications). 
  • Compliance and Registration (Proof of registration with URBRA or any other relevant body, Tax clearance with the Uganda Revenue Authority)

In addition, Tenderers should submit a Financial Proposal.

Submissions should be made with the subject, “PROVIDENT FUND MANAGER” by email to ugandalogistics@oxfam.org by 16th January 2025 not later than 3:00 pm.

NOTE: Oxfam in Uganda reserves the absolute right to continue or cancel this tender process and to determine the most competitive bid. Participation in this tender does not create any legal obligations on Oxfam in Uganda.