NSSF assets hit UGX32.8 trillion as Fund reports strong FY2025/26 performance

The National Social Security Fund (NSSF) has reported strong financial and operational performance for the Financial Year 2025/26, with assets under management rising to UGX32.8 trillion as the Fund continues to focus on growing members’ savings and improving service delivery.

NSSF Managing Director Patrick Ayota shared the performance highlights during an engagement with media partners ahead of the Fund’s 14th Annual Members’ Meeting scheduled for next week.

According to Ayota, the Fund’s assets under management grew by 26%, from UGX26 trillion in FY2024/25 to UGX32.8 trillion in FY2025/26.

The growth was accompanied by an 85% increase in total income, which rose from UGX3.5 trillion to UGX6.51 trillion during the financial year.

Ayota said the performance was supported by a disciplined investment approach, with the Fund maintaining its strategic asset allocation across fixed income, equities and real estate.

The portfolio stood at 76.5% in fixed income, 18.4% in equities and 5.1% in real estate.

“This balanced approach enables us to manage risk responsibly while generating sustainable value for our members,” Ayota said.

Member contributions also continued to grow, increasing by 13% from UGX2.13 trillion in FY2024/25 to UGX2.42 trillion in FY2025/26.

At the same time, benefits paid to members increased by 17%, from UGX1.32 trillion to UGX1.549 trillion.

The Fund also reported improvements in the speed at which members receive their benefits. Operational efficiency increased by 20%, while the benefits payment turnaround time fell from nearly two weeks in 2022 to 4.5 days.

Ayota said the improvement reflects investments in systems and processes designed to make services more responsive to members.

“Customer satisfaction improved from 88% to 89% in FY2025/26, reflecting our continued commitment to listening to members and responding to their evolving needs,” he said.

NSSF also reported progress in controlling its operating costs. The cost-to-income ratio improved from 7.9% to 7.7%, while the cost of administration declined from 0.88% to 0.84% of total assets.

According to Ayota, the Fund created about UGX29 in value for every shilling spent.

Beyond its core savings and investment activities, NSSF contributed UGX301.5 billion in taxes during the financial year.

The Fund’s voluntary savings product, Smartlife Flexi, also recorded more than UGX180 billion in contributions within 20 months. The product allows members to save towards goals including investment, education, emergencies, housing and financial independence.

Ayota said the latest performance gives the Fund a stronger foundation for future growth and supports the implementation of its Vision 2035.

The figures come as NSSF prepares to engage members at its 14th Annual Members’ Meeting, where the Fund will provide a broader account of its financial performance, operations and plans for the future.

NSSF has grown into East Africa’s largest social security fund by assets, with the Fund’s own recent publications putting its member base at more than 3.4 million and its fund value above UGX32 trillion.