40 NSSF members share their views about the Fund

Chris Irumba 

Saving with NSSF has been really helpful — but you only feel the benefits once you’ve actually joined. Before, I worked with a few companies that didn’t take NSSF seriously. We would get our full salary, spend it, and before you know it, the money was gone — with nothing to show for it. Now, with the new measures in place, most employers have adhered. It always brings a smile at the end of the month when you get that message, showing your balance growing. It feels passive, but it’s a brilliant idea, because not every worker has the financial discipline to save on their own. Above all, NSSF is truly owned by Ugandans.

Julius Setumba

I’ve been using their services for more than ten years now, and honestly, my experience has been really good. They’re transparent — you always get updates and instant feedback. A simple example, when you make a deposit, they notify you straight away. I feel like their services have greatly improved, and more people can trust them now. I’m happy with what they offer.

Godwin Kugonza

I graduated just three years ago, and I’ve been working for a company earning less than a million shillings. My savings are still small, but they’ve been growing steadily — and honestly, NSSF has been good to me. It’s easy to track everything: once you log into their system, you can check your balance anytime. My hope is to keep working, stay consistent, and retire with something meaningful. When that day comes, I want to use my savings for something good — for my life and for my dear ones.

Johnson Thembo

I would like to congratulate NSSF on its 40th anniversary. To me, one of the true game changers in recent years has been the SmartLife Flexi innovation. This initiative has not only revolutionised the way NSSF members save, but it has also successfully bridged the long-standing gap between long-term social security and immediate financial needs. For a long time, the absence of flexible, voluntary contributions was a missing link. By introducing this option, NSSF has created an opportunity to empower workers in both the formal and informal sectors to save at their own pace. This bold, digital-first approach demonstrates that the Fund is listening to the modern workers’ need for flexibility and convenience. It is a progressive move that truly deserves recognition — and yes, some well-earned flowers.

Robert Ssuuna

As a long-standing member of NSSF Uganda since 2007, I wish to applaud the Fund’s services, specifically the notable improvements in financial performance and member accessibility. The organisation has delivered strong returns, declaring on average 11.5% -12%. Digital enhancements, such as the USSD, the NSSF GO app for tracking contributions and applying for benefits, along with voluntary savings options like the Smart life Flexi plan, have made services more convenient and inclusive. Despite these advancements, key areas for improvement include greater flexibility in midterm access and housing affordability to serve savers better. The current midterm benefit allows members aged 45 and above with at least 120 months of contributions to withdraw up to 20% of their savings, but this threshold excludes younger long-term contributors and limits usability for pressing needs like education or emergencies.

Oliver Taremwa

Saving is a good thing, and I don’t have any problems with it. Every month, I look forward to seeing my account grow — especially with the annual interest rate. The more you save, the more interest you earn and NSSF has fulfilled that. What’s helpful is that I save a percentage of my pay, and my employer adds on top. That means by the time I reach retirement age, I’ll actually have something meaningful to take home. I never feel the burden of saving because the money is deducted automatically. Honestly, for me, this is the real way a true African can save for the future.

Lawrence Kusiima

Saving with NSSF has been a valuable experience, promoting financial discipline and long-term security. However, some policies need improvement. Midterm access at 45 is restrictive, given life’s uncertainties. Allowing withdrawals every ten years would enable contributors to benefit earlier, making savings truly meaningful, rather than only at midterm, retirement, or chronic illness.

Arthur Natukunda

When I was a young man turning 18, I got my first job and was required to register for an NSSF number. At the time, it was simply a condition of employment, and I gave little thought to the benefits it would offer in the future. Years later, after reviewing the projections on the NSSF app for when I turn 50, I now see it as one of the most impactful government-led savings schemes ever developed for citizens. The greatest benefit to me has been the discipline of long-term saving, with the assurance that by the age of 50, I will have a secure foundation to further invest in and support my retirement.

Hans Peter Ssenyonjo

I am a proud member who has been saving with the Fund for over seven years. NSSF remains a beautiful and forward-looking initiative, giving employees something solid to rely on after retirement especially for those who contribute consistently. The improving annual interest rates have steadily boosted member confidence, with the 13.5% payout last year standing out as a historic milestone. As a contributor, the immediate 10% employer contribution for every 5% I save is both reassuring and motivating. I also commend the Fund for introducing mid-term access, a timely and humane policy shift that proved especially valuable during the COVID period.

Sharon Kyatusimire

Every year, I eagerly anticipate the day that the new NSSF interest rate is announced. I have been saving, on and off, for about eight years — first through an employer and later voluntarily. I have also tried saving through the Smart Life program. Watching my money grow year after year is the best feeling. It gives me hope for the future. I have also appreciated their customer care. When I needed to update details on my account, the process was smooth and seamless. Occasionally, I worry that when it’s finally time for my payout, there might be some reluctance on their part. But I know members who have received their money and enjoyed the benefits, which reassures me. I hope NSSF continues to innovate and introduce more products. They feel more trustworthy to me than private investment plans.

Amosi Twimuche

I enjoy saving with NSSF primarily because of its competitive interest rate. Having invested in real estate myself, I have found that the annual interest earned from NSSF surpasses the typical yearly returns from apartment investments.

Stephen Mbabazi

I appreciate that they send online links for meetings and sensitisation workshops. However, they also need to take stronger action against employers who fail to remit employees’ contributions on time.

William Sebunje

Today, where resources are needed more for expenditure than for saving, NSSF becomes the prime option for those looking to secure some funds for the future. It provides a sense of security and peace of mind, knowing that there is money saved for tomorrow. The withdrawal restrictions are also beneficial, helping those with poor financial discipline to save consistently. Furthermore, the accountability models of sharing profits with members enhance confidence, as the value of saving is augmented. I am proud of the NSSF model.

Patrick Abigaba

I began saving with NSSF in 2012 and personally view it as a reliable and transparent institution. I believe employers should be encouraged to increase their top-up contributions for their employees. When I joined the public sector a few years ago, I chose not to withdraw my accumulated NSSF savings. My intention is to let them continue growing.

Jimmy Komakech

I feel thrilled and secure thanks to the NSSF fund. I can sleep peacefully at night knowing my retirement is covered through NSSF’s mandatory savings program. This is, by far, the best initiative the fund has provided for those of us in the private sector. What has truly impressed me recently is the introduction of NSSF’s voluntary savings scheme, which has been working exceptionally well for everyone, including those in the informal private sector. As an NSSF member, I am impressed with the fund’s commitment to providing social security services to Ugandans. I hope NSSF continues to invest in sustainable, impactful projects that benefit Ugandans — such as affordable housing and infrastructure development — helping to align their work with the country’s development goals.

Priscilla Regina Nalwoga

I have interacted with beneficiaries of their incubation programme, the Hi-Innovator, whose businesses have been scaled up by making them competitive in regional markets especially in the area of agribusiness value addition.

Charles Kato

As a long-standing member of NSSF, I have watched the fund evolve into a dependable pillar of financial security for Ugandan workers. Over the years, NSSF has consistently shown professionalism, transparency, and a solid commitment to safeguarding our savings. The improvements in service delivery — particularly through digital platforms, clearer communication, and quicker access to information — have made it easier to engage with the fund and feel assured that our contributions are being managed responsibly. I especially value NSSF’s commitment to educating members about retirement planning and financial security.

Ruth Komuntale

The annual payout has kept increasing and it looks attractive. However, more work needs to be done on the app, the user experience needs to be improved.  I have not yet reached the point of withdrawing the savings from the fund however they should continue investing wisely for the members to increase their annual returns. 

Julius Mukunda

Economist: Members should be involved in vetting the ventures that they invest in and also vetting the board members. They should start funding good infrastructure projects like the Jinja Expressway which will generate more income to the savers.

Baaz Waiswa

The idea of NSSF and saving for old age is and will always be a good idea considering that our saving culture in Uganda, and in most developing societies is low, and almost nonexistent.

Patricia Lindrio

The fund looks good, I have been out of employment for one year but I have been saving for 17 years, they keep sending me the updates of whatever they are doing.

Anthony Ogallo

Chairman Petroleum Importers Association: NSSF has sprung from a being a redundant institution into a vibrant retirement benefits scheme. It is shielded with a lot of faith built on their credibility as an institution that has kept its word. They should invest in some of the projects where we are borrowing from China and paying a lot of interest so that money comes to the fund, for instance they could fund the construction of the Jinja Expressway.

Wycliffe Sebunya

In the last 40 years, NSSF has been building its resource envelope and ensuring that every member is benefiting from all the projects. I was happy when they introduced the Smart Flexi project which allows anyone to save with the fund. They have tried to recruit many new members by sensitising the public and it has brought a lot of buy-in. Today boda boda riders and market vendors are saving with the fund. The Hi-Innovator project was also a very good initiative, they have been transparent with their investments and somehow earned the public trust.

Jackie Tahakanazibwa

I have saved consistently with the fund and I am happy with its growth and stability despite the hiccups here and there. These are issues that any organization will have to face at one time. I looked at my statement, and I am happy with the balance. I haven’t reached the age for mid-term access, I hope I shall be able to do something with it while I am still energetic. NSSF needs to be more focused and more transparent by involving the members to agree on where to invest the money to get more interest. However I say cheers to them for the 40 years. Keep soaring higher and higher.

Yvonne Mpanga

Business Developer and Advisor: I love the way they have embraced technology. Having worked at COSEKE, I see how they were quick among all government institutions to embrace technology compared to institutions such as the Uganda Police and URSB and this has enabled them to reach out to bigger audiences.

Yvonne Katureebe

I used to save there when I worked with Fresh Cuts. I stopped in 2022. I went for the midterm access and invested the money in farming for retirement.

Sumin Namaganda

The mid-term access was a great innovation because I saw people access the money for personal growth and they transitioned to a better life. The fund should come up with more of such innovations to benefit the members when they are still alive. It is a very strong and sound institution and they have digitised most of their operations. Congratulations upon making 40 years!

Stephen Otage

I would like to congratulate NSSF upon making 40 years. The interest rate has been good for the members. In the future, I believe NSSF should partner with landlords like KCCA, Buganda Kingdom and district land boards, identify some of the slum areas where they own land, and build modern low cost houses which will accommodate the working population which has been forced to sleep in slums.

Beckham Mushabahebwas

I have been saving since 2014. I have been enjoying the interest rates all these years, however they need to improve.

Peace Asanase

When I was working at Stanbic Bank I used to save at NSSF between 2004 and 2015, but I stopped when I retired. I no longer save. The money is still there. I haven’t accessed it. I don’t need it now. I will only access it when I feel I have good use for it.

Moses Bright

Their services are good. Whenever my salary is deducted and sent to them, they send me a notification, and whenever I have issues with them and I call them, they respond. My only request to them is to reduce the number of years to access the 20 percent, to 40 years.

Paul Tumwesigye

I have saved with them since 2002 which is now over 20 years. The services are 90 percent good; they give us our statements and regular updates and whenever there are complaints, they rectify them immediately. I believe they are doing quite well. The idea of midterm access was very good. I accessed it and invested it in my building project and the rest of the money in unit trusts.

Susan B. Mugyenyi

Saving with NSSF is an excellent idea. However, it should come with complimentary financial literacy education for all savers. NSSF should assign financial advisors to every company that saves with them. This would allow members to receive free financial guidance and advice directly. These advisors could schedule regular meetings, for example, on a quarterly basis — to visit organisations and counsel employees on financial management, as well as on how to start and grow side hustles.