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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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Employee pre-registration

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Employer pre-registration

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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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Friends with Benefits Season 2 Entry form



YOUR STORY


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General Feedback

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Report Fraud

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Report a defaulting employer

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Benefits follow up

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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

Let's keep in touch

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NSSF cautions it will declare lower interest rate to savers

KAMPALA; Tuesday, September 17, 2019: The National Social Security Fund (NSSF) will pay a lower interest rate to its members for the Financial Year 2018/19 on account of a drop in its total income compared to the previous year, Managing Director Richard Byarugaba has said.

 

Addressing the media at Workers House in Kampala, Byarugaba said that while the Fund’s revenue which includes interest, dividend and rental income increased by over 20% to UGX 1.3 trillion, overall income reduced by over UGX 402.8 billion due to a decline in regional equity prices and currencies.

 

For instance, the Nairobi Stock Exchange lost 14%, the Uganda local share index shade 10% while Tanzania plummeted by over 21%. Consequently, the share prices closed below the prices registered at end of the previous FY, which impacted the performance of  our equity portfolio, he said.

 

“Futher there was general depreciation of the regional currencies against the Uganda Shilling. Both the Kenya and Tanzania currencies depreciated by 6.1% against the Uganda Shilling.””

 

Byarugaba said that given our performance this year, the Fund will not match the 15% interest rate paid the previous Financial Year 2017/2018.

 

The Minister of Finance, Planning & Economic Development Hon Matia Kasaija will declare the new interest rate at the Annual Members Meeting on September 27, 2019.

 

He said that although the Fund will most likely declare lower interest rate to its members, it will still pay a competitive return, at least 2 percentage points above the 10 year average rate of inflation.

 

“Since fiscal year 2012/2013, we have consistently delivered on that commitment. I am therefore extremely confident that the Minister will declare a rate that will achieve and even surpass this target.This promise which we started fulfilling in the FY 2012-13 will be maintained this year.

 

Byarugaba also assured members that the Fund is stable and financially sound, and continues to grow both in value and membership. The Fund”s assets under management increased by 13.1% from UGX 9.9 trillion to UGX 11.3 trillion at end of June 2019, mainly driven by increased contributions and interest income. Contributions increased by 15%, from UGX 1.0 trillion to UGX 1.2 trillion.

 

“Our members should be confident about the health of the Fund in  the short, medium and long term as the Fund remains financially stable and growing. We have the ability and means to withstand any shock in the economy, given our aggressive but prudent investment approach and our investment diversification strategy. Safety and Security of members’ funds will remain the guiding principle in our decision making,” he said.

 

Financial Performance Summary  as end of June 2019

  • Assets under Management increased by 13.1% from UGX 9.9 trillion to UGX 11.3 trillion.
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  • Annual contributions collections increased from UGX 1.0 trillion to UGX 1.2 trillion – a 15% growth
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  • The amount of money paid in benefits increased by 25% from UGX 360 billion in to UGX 450 billion.
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  • Cost of administration marginally improved from 1.30% to 1.28%.

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