Record-Shattering 22.53% Interest Declared as NSSF Hosts 14th Annual Members’ Meeting

The National Social Security Fund (NSSF) held its 14th Annual Members’ Meeting at the Serena Kampala Hotel. The landmark event delivered monumental news for Ugandan savers: a record-breaking 22.53% interest rate declared for the financial year ended June 30, 2026—the highest payout in the Fund's 40-year history.

The meeting brought together stakeholders, government officials, and contributors to review NSSF’s audited financial statements, outline strategic growth under Vision 2035, and celebrate a year of unprecedented financial expansion.

Strategic Highlights & Financial Performance

Driven by robust growth in fixed-income securities, higher equity valuations across the East African region, and favorable foreign exchange adjustments, NSSF’s underlying figures set new benchmarks across all core operational areas:

• Total Income: Reached Shs 6.51 trillion, an 85% surge from Shs 3.51 trillion in the previous financial year.
• Assets Under Management (AUM): Grew by 26% to Shs 32.8 trillion, up from Shs 26 trillion.
• Member Payout: A total of Shs 5.44 trillion will be credited directly to members’ accounts.
• Contributions & Benefits: Member contributions grew 13% to Shs 2.42 trillion, while benefits paid to qualifying members rose 17% to Shs 1.55 trillion.

Remarks of Managing Director Patrick Ayota

Delivering the Managing Director's Report, Patrick Ayota attributed the record financial results to disciplined execution, sound portfolio allocation, and aggressive expansion into non-traditional member segments.

"Under Vision 2035, our target is to extend social security coverage to 50% of working Ugandans. For the 2025/26 financial year, we set a target of attracting 300,000 new contributors, and we surpassed it by enrolling 311,000 new members. As of June 2026, our coverage stands at 24.1% on our journey toward that 50% mark.

Our strong financial stance allows us to not only safeguard savers' money against inflation but also actively partner in key national development projects, including major infrastructure investments like the upcoming Kampala-Jinja Expressway."

Ayota also highlighted operational wins, including reactivating over 55,000 dormant accounts and expanding the adoption of voluntary contribution frameworks through products like the Smartlife Flexi scheme.

Remarks of Minister of Finance Henry Musasizi

Declaring the landmark interest rate, Minister of State for Finance, Planning, and Economic Development Hon. Henry Musasizi commended the leadership of the Fund for delivering historic value to Ugandan workers.

"It gives me immense pleasure to declare an interest rate of 22.53% for NSSF standard contributors for the financial year ended June 2026. This translates to Shs 5.44 trillion going directly to the savers—an allocation Shs 2.64 trillion higher than last year.

This level of performance is not accidental; it is a direct product of prudent investment choices, strategic vision, and strong governance at NSSF. The Fund has firmly consolidated its place as the largest pension fund in East Africa. We will continue supporting NSSF as it invests in key government infrastructure while balancing risk to maximize long-term member value."

Addressing compliance, Minister Musasizi issued a stern warning to non-compliant employers who default on employee statutory contributions, noting that the government is prepared to revoke trading licenses for recalcitrant businesses in coordination with the Ministry of Trade.