RSSB Moves to Recover Pension Arrears as Assets, Profits Hit Record Highs

RSSB Chief Executive Officer Regis Rugemanshuro said the law empowers the institution to enforce recovery measures, including asset seizure and administrative penalties, against employers who fail to remit pension contributions for their employees.

He made the remarks on Tuesday while appearing before Parliament’s Committee on Social Affairs, which was reviewing findings from a special audit by the Office of the Auditor General on the management of the pension scheme.

Lawmakers questioned why some employers declare payroll taxes but fail to declare or pay pension contributions, a practice that undermines workers’ social security benefits.

Rugemanshuro said RSSB has the legal mandate to pursue defaulters but acknowledged that enforcement remains challenging, particularly when it comes to public institutions.

“While the law gives us enforcement powers, applying them to public institutions is complex,” he said. “Seizing bank accounts of hospitals, for example, would disrupt essential services and could create problems greater than the arrears we are trying to recover.”

He said RSSB continues to recover unpaid contributions through legal and operational mechanisms, noting that many employers opt to settle arrears through installment payment plans that can run for up to two years.

“As a result, recovery figures may appear modest in the short term, even though the recovery process is ongoing,” Rugemanshuro said.

RSSB is expanding the use of digital reminder systems and data-driven recovery strategies to improve compliance. The agency is also working with the Ministry of Finance and Economic Planning to develop approaches for recovering arrears from public institutions, particularly schools and hospitals, without disrupting services.

Rugemanshuro urged lawmakers to advocate for the inclusion of pension arrears in annual budget allocations, warning that delayed payments harm workers and affect RSSB’s operations.

According to the audit report, unpaid pension contributions from public and private institutions totaled about 4.5 billion Rwandan francs between 2020 and 2024.

Despite the arrears, RSSB reported strong financial performance. Rugemanshuro said the institution’s total assets more than doubled over the past five years, rising from about 1 trillion francs to 3 trillion francs in 2025. During the same year, RSSB recorded a profit of 413 billion francs, representing a return of 15.6%.

In 2025 alone, RSSB was owed 27.9 billion francs in pension arrears, including 16 billion francs from public institutions and 11 billion francs from private employers. The government paid 2 billion francs, while private employers paid 9 billion francs.

Rugemanshuro said RSSB remains financially sound and capable of meeting its obligations.

“There is no cause for concern,” he said.

RSSB’s investment portfolio includes bonds, bank deposits, commercial ventures, development-oriented projects and real estate, with about 95% of its investments made within Rwanda.