The National Social Security Fund (NSSF) is National Saving Scheme mandated by Government through the National Social Security Fund Act, Cap 222 (Laws of Uganda) to provide social security services to employees in Uganda.
It was established by an Act of Parliament (1985) to provide for its membership, payment of contributions to, and payment of benefits out of the Fund.
NSSF is a provident fund (pays out contributions in lump sum). It covers all employees in the private sector including Non Governmental Organizations, that are not covered by the Government's pension scheme. It is a scheme instituted for the protection of employees against the uncertainties of social and economic life.
NSSF Vision
To be the region's leading Social Security provider, delivering a wide range of quality products and services and a real return to our members, while driving economic development and sustaining a competitive advantage in a free market.
NSSF Mission
We commit to:
- Providing meaningful retirement benefits to our MEMBERS both in terms of service, and real value
- Providing a convenient and efficient system to EMPLOYERS, for the purpose of meeting their own and their employees' NSSF obligations
- Contributing to the region's ECONOMIC DEVELOPMENT by effecting economically strategic investments
- Recruiting, training, developing and retaining the best and brightest STAFF, in order to secure organisational excellence.
NSSF Values
- Quality
- Innovation
- Teamwork
- Efficiency
- Commitment
- Integrity
- Accountability
NSSF Benefits
As per the Act, NSSF administers and pays qualified contributing persons the following benefits as a matter of right
- Age Benefit
This is paid to members who have reached the retirement age of 55. Old Age benefit can also be claimed on attaining the age of 50, provided the claimant has been out of employment for at least a year
- Survivors Benefit
This is paid to the immediate surviving family (spouse and children) of the deceased member. In case the member did not have a spouse or children, the benefit is paid to parents if they solely depended upon the deceased member.
- Withdrawal Benefit
This is paid to members who join exempted employment categories that have their own Social Protection Schemes e.g. public service, Army, Police etc
- Emigration Grant
This is paid to foreign or Ugandan members who are leaving the country permanently
- Invalidity Benefit
This is paid to members who can no longer be gainfully employed because of physical or mental incapacitation
Investments
The NSSF Board of Directors, through Management has a legal and fiduciary obligation to act in the best financial interest of the Fund's beneficiaries and to exercise the highest standard of care. Premised on the above, the Fund has established Investment Policy Guidelines and Strategies that are vital to all the Fund's stakeholders.
NSSF believes that the projected pension benefits can best be met by having the proper long term asset mix, including proper diversification as well as prudent management of risks.
The Board of Directors has approved an asset mix that has strong equity skew and considers the alternative asset class of Real Estate. This should enable the fund to achieve revenue targets that can sustain the desired interest levels to members.
NSSF has an array of permissible investments covering almost all sectors of the economy. These include; real estate development, energy, water, education, health, mortgage finance (both primary and secondary) and SME developments.
Future Plans
- Decentralize benefits payment in area offices
- Introduce a Client Self Service system
- Introduce new social security products
- Health Insurance
- Unemployment
- Education
- HIV/AIDS
- Maternity
Contact us
CUSTOMER SERVICE CENTRE
Plot 1 Pilkington Road, Workers House, Ground Floor
P.O Box 7140, Kampala, Uganda
Tel: +256 0417 331755, +256 414 250321
Fax: 256 414 258646, 256 414 341137
E-mail: customerservice@nssfug.org
Website: www.nssfug.org
