• NSSFGo
  • Whistleblower platform

e-statement

Welcome to the NSSF E-statement feature. In our continued effort to serve NSSF members better, we have enhanced the e-statement feature to make it more user-friendly, quicker and easier and to access your e-statement online.



»Login »How to Get your e-statement »Lost password

Pre-registration

Welcome to the NSSF pre-registration feature. Please note that only non-registered members are to use this feature.



»Employee pre-registration »Employer pre-registration

Employee pre-registration

Male: Female:

Single: Married:

Enter the word you see below:

×

Employer pre-registration

Male: Female:

Enter the word you see below:

×

Customer query

Welcome to the NSSF customer query feature. In our continued effort to serve NSSF members better, we have enhanced the e-statement feature to make it more user-friendly, quicker and easier and to access your e-statement online.



»Statement update »General Feedback »Report Fraud
»Report a defaulting employer »Benefits follow up

Statement update

Enter the word you see below:

×

Friends with Benefits Season 2 Entry form



YOUR STORY


Enter the word you see below:

 

×

General Feedback

Enter the word you see below:

×

Report Fraud

Enter the word you see below:

×

Report a defaulting employer

Enter the word you see below:

×

Benefits follow up

Enter the word you see below:

×

Contributions

The NSSF covers all employers who have 5 or more employees between 16 and 55 years of age, with the exception of employees under the Government Pensions Act. The NSSF Act requires a registered employer is required to pay contributions to the Fund for his\her employees every month during which he/she pays salaries.

The NSSF Act also provides for voluntary membership for employers with less than 5 employees.

…[read more]

Investment

NSSF collects members' contributions and invests them judiciously, and pays commensurate benefits to qualifying members. The money collected is maintained on individual member accounts, invested and earns an annual interest depending on our return on investments.

NSSF's Investment Policy provides for clear guidelines on investments. The Board and Management are mandated by the NSSF Act to invest the money on behalf of the NSSF members. Currently, NSSF has various investment interests in real estate, equities, and fixed income. The benefit for the member is that the member is assured of secure retirement.

…[read more]

Benefits

NSSF administers and pays qualified contributing persons the following benefits;
Age
Invalidity
Survivors
Withdrawal
Exempted Employment
Emigration Grant

…[read more]

Contact info

  • Plot 1 Pilkington Road,
    Workers House, 14th Floor

  • P.O Box 7140, Kampala, Uganda
  • Email: customerservice@nssfug.org
  • Phone: +256 313-331-755
  • Toll free: 0800 286 773
  • Website: www.nssfug.org

Let's keep in touch

Enter the word you see below:

NSSF declares 11.23% interest rate at 5th Annual Members Meeting

KAMPALA September 28, 2017: - The National Social Security Fund (NSSF) will pay an 11.23% interest rate on members’ savings for the financial year 2016/2017, Ajedra Gabriel Aridru, Minister of State, General Duties; Ministry of Finance, Planning and Economic Development announced today at the 5th NSSF Annual Members’ Meeting.

 

This is on the back of a good financial performance that saw the earnings grow by 35% from Shs674 billion in 2016 to Shs912 billion in 2017, itself powered by a 19% growth in interest income from Shs659 billion to Shs781 billion and a 39% growth in dividend income from Shs38 billion in 2016 to Shs52 billion in 2017.

 

The Fund’s fundamentals also grew- total contributions grew by 17% from Shs785.5 billion in 2016 to Shs917billion in 2017 (monthly contributions grew by 18.5% from Shs65 billion to Shs77 billion) as compliance improved from 77% to 80% and the number of employers and members registered, grew by 14% and 9% respectively.

 

As a result, there was a 20% growth in the Fund’s Assets Under Management, from Shs6.586 billion in 2016 to Shs7.924 billion, keeping NSSF as Uganda’s largest financial institution.

 

The Minister applauded NSSF for yet again growing the contributors’ savings in real terms.

“Although there has been a reduction in interest paid from 12.3% in 2016 to 11.23% in 2017, this is still 2.6% above the 10-year average inflation rate of 8.678%,which is well within the Fund's strategic target of paying interest rate, that is 2% above the 10-year average inflation rate,” said Ajedra, adding:

 

“The interest rate paid this year is also 2 percentage points above the 9.31% average interest rate on fixed deposits (7-12months) paid by commercial banks and 8 percentage points above the average 3.44% interest rate paid by commercial banks on normal savings deposits.”

 

NSSF Managing Director Richard Byarugaba attributed the Fund’s good performance to its aggressive but prudent investment strategy and improved compliance levels from members.

 

“We have once again outperformed the economy, meeting and in many instances surpassing our targets. This performance is also above-industry performance, demonstrating that we are delivering value to members, clearly distinguishing the Fund as a preferred savings vehicle”, he said.

 

“This year, there has been a 12% increment in money allocated to paying interest to our members, from Shs606 billion to Shs681 billion, but cumulatively, over the last 6 years that we have been in charge of the Fund, there has been a 246% increase (three and a half times) in interest paid from Shs197 billion in 2011 to Shs681 billion in 2017,” he said adding: “With an income of  Shs912 billion on Shs7.924 trillion, NSSF's Return on Assets (11.51%) is above the industry average of 8%.”

 

According to the URBRA Retirement Benefits Sector Report for 2016, the sector posted 8% return on assets in 2016 compared to 14% in 2015.

 

“The fact that more and more workers are entrusting their money with us shows that we have earned their trust. It is therefore our obligation to continuously improve our processes through automation and provide our members with a great customer experience. We will also continue to seek more competitive investment opportunities both in and outside the country to strengthen our financial performance and ensure adequate and satisfactory returns to our members,” Byarugaba noted.

 

The Fund’s investment portfolio is in three major asset classes; of Fixed Income, Equity and Real Estate.  New real estate investments include, the Shs15.5 billion Mbuya Housing Project, the Shs3.3 billion Jinja commercial complex, the upcoming Mbarara commercial complex, Pension Towers and the $400 million Lubowa Housing Estate commissioned early this week.

 

The NSSF Board Chairman Patrick Kaberenge said that the Fund is steadily progressing towards achieving a total Fund value of shs 20 trillion in 2025 because of an effective corporate governance framework that is delivering tangible benefits to the Fund, as well as a strong leadership team.

 

On future investments, Byarugaba noted that the Ugandan economy is projected to rebound on the back of increased investment and productivity in key sectors of Agriculture, Tourism and Minerals, Oil and Gas, as well as the informal sector and the Fund is well positioned to take advantage of these growth opportunities.

Facebook

×

Twitter

YouTube

×