NSSF has paid a total of UGX 7 billion in benefits to 1145 qualifying members in the month of March 2010, a 55% increase from January payments.
This follows UGX 5.9 billion paid in February 2010 to 947 members and UGX 4.5 billion in January that was paid to 817 members.
The breakdown of the March 2010 payments is as follows:-, UGX 5 billion was paid for Age/ Withdrawal Benefit, UGX 282 million for Invalidity Benefit, UGX 705 million for Exempted Employment, UGX 388 million for Survivor’s Benefit and UGX 599 million for Emigration Grant.
The steady increase is as a result of significantly improved the turnaround times in which the benefits are processed from an average of 84 days last year to an average of 30 days this year. The Fund will continue to rigorously check and verify all submitted claims to ensure that right beneficiaries are paid on time. NSSF remains committed to providing quick and efficient service delivery to all members.
In 2009, NSSF paid a total of UGX 57 billion in benefits to over 10,000 qualifying beneficiaries, representing 57% increase in amount paid and 32% in beneficiaries paid from 2008.
NSSF now pays an average of UGX 6 billion has been paid to beneficiaries over the last six months, an increase from an average 4.7 billion paid every month in 2009, and 3 billion paid in 2008.
|
BENEFITS PAYMENT DATA: 1999-2009
|
|
Period
|
Benefits Paid (UGX Billions)
|
No. Paid
|
|
1999
|
4.7
|
7,883
|
|
2000
|
5.7
|
6,884
|
|
2001
|
9.8
|
8,704
|
|
2002
|
12.2
|
8,995
|
|
2003
|
15.4
|
9,448
|
|
2004
|
17.4
|
8,645
|
|
2005
|
19.4
|
7,139
|
|
2006
|
20.5
|
7,100
|
|
2007
|
38.2
|
11,597
|
|
2008
|
36.2
|
7,891
|
|
2009
|
57.3
|
10,471
|
Click March 2010 Beneficiaries to download list of beneficiaries |
