Dear reader;

Greetings from the Senior Management and the Staff at CSR; we are privileged to present to you our early score of the second semester in 2009-2010.

Let me take this opportunity to thank you for the continued support you have rendered to the Fund.

I must restate that the year 2009 has been successful indeed, the fund registered a great milestone in its core responsibilities of collecting contributions, registering employers & employees and paying benefits plus productively investing surplus funds.

According to the 2009 revenue projections, the Fund expected to collect 24bn and as of November a total of 23.6bn has been collected representing 24.3% average growth rate since 2000.

Since January 2009, over 6bn has been paid as benefits to our members. I am pleased to inform our readers that the fund’s investments have continued to grow to an average growth rate of 29.6% since the year 2000. Owing to your cooperation, the Fund registered 1,539 new employers and 9,456 employees between July and November 2009. we have 46 registered under mandatory for the same period.
The Fund has put in place measures to extend coverage to informal and rural sectors. We are still looking at all possibilities in curbing down employer incompliance like 30% fine of the contributions on defaulters.

In 2009, cabinet decided to merge RAMA and CSR into one institution, Rwanda Social Security Board (RSSB).
A commission composed of members from President’s Office, MINECOFIN, RAMA and CSR, was put in place to carry out the implementation work. So far, the following achievements have been made; the organizational structure has been drafted; the law governing the organization and functioning of RSSB was drafted and approved by the cabinet; the laws on pension, occupational risks, pre-retirement savings and maternity insurance have been drafted; the processes and procedures are being refined and the exercise is in final stages.
In the same development, cabinet approved the new social security policy and the organic law on social security in Rwanda. The major features of the new policy are the introduction of the provident fund and the Housing scheme.

We shall also continue to equip our staff with the right skills and also improve their welfare to spur their dedication and outstanding service to our members. Our staff formulates a key pillar of the organization.

We thank our esteemed Stakeholders for your support and we reaffirm our commitment to provide high quality services to our clientele as well as significantly contributing to the economic growth and development of our Nation.