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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.



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Pre-registration

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



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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.



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YOUR STORY


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General Feedback

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Report Fraud

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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.

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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.

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Benefits

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

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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

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NSSF Declares a Record 15% Interest Rate for FY 2017/2018

KAMPALA August 28, 2018: - The National Social Security Fund (NSSF) has today announced an interest payout of 15 per cent on members’ savings for the financial year 2017/2018. This was announced by Hon. Dr. Gabriel Ajedra, State Minister of Finance for General Duties at the 6th NSSF Annual Member’s Meeting.

 

The interest rate for the year equates to 1.1 trillion shillings paid out in interest to members of the Fund. This is the very first time in the Fund’s history that the Fund has declared 15% interest rate to its members.

 

The announcement comes on the heels of the Fund’s declaration of an impressive performance on key financial indicators for the Financial Year 2017/2018, with total income hitting a record UGX 1.6 trillion before interest to members and taxes with the fund’s total Assets Under Management (AUM) hitting a record UGX 9.98 Trillion as at June 30, 2018, a 26% increase from UGX 7.92 Trillion the previous Financial Year.

 

The 15% interest rate is attributed to the Fund’s improved performance on all financial and investment indicators, arising out of strategic exploitation of the investment environment within the region, despite modest growth in the economy over the same period.

 

The Fund’s performance shows total member contributions increased by 14% to UGX 1.05 trillion in 2017/2018 compared to UGX 917 billion in the previous Financial Year, the most ever collected by the Fund in a single year and total Income increased by 77% to UGX 1.6 Trillion in 2018 from UGX 912 Billion in 2017.

 

Member contributions also grew by 14% to UGX 1.05 Trillion in 2018 from UGX UGX 917 Billion in 2017 and benefits paid out to qualifying members increased by 29% to UGX 360 Billion in 2018 from UGX 278 Billion in 2017.

 

“These milestones can be attributed to a steady rise in compliance levels now at 81% as more members continue to trust us with their money. There was also a drive towards innovations that saw us introduce new products like the Voluntary savers scheme which attracted even more members,” said Richard Byarugaba, Managing Director, NSSF.

 

Byarugaba added that going by this growth, the Fund is on course to hit Ushs total assets 20 trillion by 2025 as per the 2015 – 2025 Strategic Plan outperforming all other funds and investment options.

 

Summary of the Fund’s 2017/2018 Performance

• The Assets Under Management (AUM) increased by 26% from UGX 7.92 Trillion in 2017 to UGX 9.98 Trillion in 2018

 

• Total Income increased by 77% to UGX 1.6 Trillion in 2018 from UGX 912 Billion in 2017

 

• Member contributions grew by 14% to UGX 1.05 Trillion in 2018 from UGX UGX 917 Billion in 2017

 

• Benefits paid out to qualifying members increased by 29% to UGX 360 Billion in 2018 from UGX 278 Billion in 2017

 

• Compliance Level rose to 81% in 2018 from 80% in 2017 leading to improved contributions

 

• Cost of Administration stayed flat at about 1.3%

 

• Cost to income ratio declined by 1% to 12.6% in 2018 from to 13.4% in 2017

 

 

The Fund has consistently paid a real and competitive return to its members over the last 6 years:

 

Year              NSSF Interest

2012             10.00%

 

2013             11.23%

 

2014             11.50%

 

2015             13.00%

 

2016            12.30%

 

2017            11.23%

 

2018            15%

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