Uganda’s National Social Security Fund (NSSF) has declared a bumper 23.53% interest rate, handing members a record Shs5.44 trillion as the retirement fund posted a sharp rise in earnings.
The latest payout is more than double the Shs2.7 trillion distributed to members for the 2024/25 financial year and represents a 66.89% jump in the interest rate from last year’s 13.5%.
The return is also well above the prevailing industry range of about 12% to 15%, underscoring NSSF’s strong investment performance.
The announcement was made yesterday at the fund’s 14th Annual Members’ Meeting in Kampala, where officials unveiled a year of strong growth across the fund’s key financial indicators.
NSSF Managing Director Patrick Ayota said the fund’s total revenue surged from Shs3.5 trillion to Shs6.5 trillion in the 2025/26 financial year, an increase of about 86%.
The fund’s assets under management also expanded to Shs32.8 trillion, strengthening its position as one of Uganda’s largest institutional investors.
Finance Minister Henry Musasizi praised NSSF’s performance, particularly the growth in its asset base.
“The fund’s assets under management increased by Shs26.6 trillion from the financial year 2024/25 to Shs32.8 trillion in 2025/26,” Musasizi said.
Informal sector
Beyond the headline returns, NSSF is stepping up efforts to bring more workers outside the formal employment system into the social security net.
Ayota said the fund’s Smartlife Flexi product, launched to widen access to social security, has attracted more than 100,000 members and generated Shs180 billion in contributions in nearly two years.
“I am happy to note that the NSSF Smartlife Flexi product is being embraced by informal sector as well as formal sectors,” Ayota said.
The fund’s Vision 2035 strategy places expansion of social security coverage among its priorities, alongside investment in infrastructure and other areas of the economy.
Gender, Labour and Social Development Minister Lt Gen Henry Tumukunde commended NSSF for targeting informal-sector workers, saying the fund had a greater role to play in driving economic growth.
NSSF Board Chairperson Dr David Ogong reaffirmed the fund’s commitment to expanding coverage to the informal sector while pursuing the priorities set out under Vision 2035.
NSSF said it has consistently delivered interest rates above the 10-year average inflation rate for more than a decade, helping protect the purchasing power and grow the value of members’ savings.
