National Social Security Fund (NSSF) has declared a record 22.53% interest rate for members for the 2025/26 financial year, translating into a record Shs5.44 trillion credited to members’ savings.
The rate represents a significant increase from the 13.5% interest rate declared for the previous financial year and is above the prevailing industry market range of between 12% and 15%.
The Shs5.44 trillion payout is the highest amount declared by the Fund to its members, compared with Shs2.79 trillion paid out for the 2024/25 financial year.
NSSF announced the interest rate during its 14th Annual Members’ Meeting held in Kampala on Thursday.
The Fund said it has maintained a strong record of returns for more than a decade, consistently declaring interest rates at least two percentage points above the 10-year average inflation rate, helping to preserve and grow the value of members’ savings.
Speaking at the meeting, Minister of State for Finance, Planning and Economic Development Henry Musasizi commended NSSF for expanding its asset base to Shs32.8 trillion.
“The Fund’s Assets Under Management increased by 26%, from Shs26.0 trillion in the Financial Year 2024/25 to Shs32.8 trillion in the Financial Year 2025/26,” Musasizi said.
NSSF Managing Director Patrick Ayota said the Fund recorded strong growth across several key performance indicators during the financial year, including an 85% increase in earnings.
The Fund’s total revenue rose from Shs3.5 trillion in 2024/25 to Shs6.5 trillion in 2025/26.
Ayota said NSSF’s Vision 2035 strategic roadmap remains focused on expanding social security coverage beyond the formal sector while supporting national economic development, including infrastructure.
He also highlighted growing uptake of the NSSF Smartlife Flexi product among workers in both the informal and formal sectors.
“I am happy to note that the NSSF Smartlife Flexi product is being embraced by the informal sector as well as the formal sector, with Shs180 billion in contributions and more than 100,000 people enrolled in nearly two years,” Ayota said.
Minister of Gender, Labour and Social Development Henry Tumukunde also commended NSSF for its efforts to widen social security coverage, particularly among workers in the informal sector.
He urged the Fund to play a greater role in supporting economic growth.
NSSF Board Chairperson Dr David Ogong reaffirmed the Fund’s commitment to expanding social security coverage among informal-sector workers, alongside other priorities under the Vision 2035 strategy.
The latest financial results reinforce NSSF’s focus on growing members’ savings while expanding coverage to previously underserved segments of Uganda’s workforce.
