Business 16 September 2026 Daily Monitor (Uganda)
NSSF Announces Strong Financial Performance, Interest Rate Payout Imminent
Uganda's National Social Security Fund (NSSF) is set to announce its interest rate payout next week, following a reported strong financial performance over the past fiscal year. Analysts anticipate a favorable rate for the fund's 2.4 million members. Source: https://www.monitor.co.ug/uganda/news/national/how-nssf-performed-and-what-it-signals-for-members-5597988
Savers with the National Social Security Fund (NSSF) will soon learn the earnings on their contributions for the last financial year. Finance Minister Henry Musasizi is expected to announce the interest rate payout, with NSSF management reporting a robust financial performance of 85 percent.
While specific figures for the interest rate are eagerly awaited, initial reports suggest a positive outcome for the fund’s 2.4 million members. This follows a year where total income performance saw a significant increase, growing from Shs3.5 trillion to Shs6.51 trillion.
Member contributions also experienced growth, rising by a notable 13 percent to reach Shs2.42 trillion. Concurrently, the fund disbursed Shs1.549 trillion in benefits to eligible members, marking a 17 percent increase in payouts and demonstrating an improved efficiency in settling these claims.
In addition to its core operations, NSSF is exploring avenues to bolster its growth and expand its reach. The fund is actively targeting Uganda’s diaspora population, aiming to attract them through voluntary savings accounts, dollar-denominated options, and housing incentives. This initiative is seen as a strategic move to broaden the retirement savings base.
NSSF managing director Patrick Ayota has expressed optimism that diaspora savings could significantly strengthen the fund’s growth trajectory. This focus on voluntary accounts and engaging the diaspora aligns with NSSF’s broader goal of securing the financial futures of more Ugandans.