The National Social Security Fund (NSSF) Uganda delivered its strongest financial performance on record in the Financial Year 2025/26, with total revenue increasing by 85% year-on-year to Shs6.51 trillion, Managing Director Patrick Ayota has said.
Addressing the NSSF Annual Media Dialogue in Kampala, Ayota attributed the record performance to stronger-than-expected returns across the Fund’s investment portfolio.
“We recorded our best performance for the Financial Year ended June 2026, driven by growth in interest income, higher dividend earnings and strong gains across regional equity markets,” Ayota said.
He said the Fund’s strategic allocation of investments to stable, long-term assets aligned with members released by the Fund, interest income rose by 21% to Shs3.49 trillion in FY2025/26, up from Shs2’ savings horizons, coupled with a focus on high-quality dividend-paying listed companies and sustained cost efficiency, had contributed to the strong performance.
According to figures released by the Fund, interest income rose by 21% to Shs3.49 trillion in FY2025/26, up from Shs2.88 trillion the previous year.
Dividend income increased by 55% to Shs369 billion from Shs238.14 billion, while gains from regional equities surged by 587% to Shs2.62 trillion from Shs381 billion.
Income from real estate, however, declined by 4%, although the asset class still contributed Shs16 billion to total revenue.
The Fund also recorded stronger savings mobilisation, with member contributions rising by 13% to Shs2.42 trillion in FY2025/26 from Shs2.13 trillion the previous year.
The combined growth in revenue and member contributions lifted Assets Under Management (AUM) by 26%, from Shs26.0 trillion in FY2024/25 to Shs32.8 trillion in FY2025/26.
“This consolidates our position as the largest social security fund in East Africa by value and provides a strong platform for growing the Fund to Shs80 trillion by 2035, in line with our Vision 2035 strategic objectives,” Ayota said.
Figures released by the Fund also show continued growth in voluntary savings.
Less than two years after the launch of NSSF Smartlife, its flagship flexible and goal-based voluntary savings product, more than 135,000 people had enrolled, saving more than Shs180 billion as of June 2026 cost of administration declined by 4.5% to 0.84% in FY2025/26 from 0.88% a year earlier, while the cost-to-income ratio eased.
Ayota said the Fund’s focus on creating long-term value for members had contributed to record growth while maintaining tighter cost controls.
The cost of administration declined by 4.5% to 0.84% in FY2025/26 from 0.88% a year earlier, while the cost-to-income ratio eased to 7.7% from 7.9%.
“For every shilling we spent, we made over 29 shillings for the member. We are not just preserving, but most importantly, we are creating value for the member,” Ayota said.
Ayota also said NSSF Uganda’s improved performance extended to its operational efficiency.
The amount paid out to members in benefits increased by 17%, from Shs1.32 trillion in FY2024/25 to Shs1.549 trillion in FY2025/26.
At the same time, payment efficiency improved, with the average processing period falling from six days to 4.5 days.
