NSSF Posts Record UGX 3.5 Trillion Earnings, Assets Hit UGX 26 Trillion

The National Social Security Fund (NSSF) has announced its strongest performance yet, with earnings climbing to UGX 3.52 trillion for the financial year ending June 30, 2025. This represents an 11% increase from last year’s UGX 3.2 trillion.

Contributions from members also rose sharply, crossing the UGX 2 trillion mark for the first time. Collections grew from UGX 1.93 trillion in 2023/24 to UGX 2.13 trillion in 2024/25, underlining stronger compliance and growing confidence in the Fund.

Managing Director Patrick Michael Ayota attributed the results to improved performance across multiple asset classes. Interest income rose from UGX 2.34 trillion to UGX 2.88 trillion, while dividend earnings increased from UGX 175 billion to UGX 238 billion. Real estate income also posted growth, rising from UGX 13.2 billion to UGX 16.6 billion.

Dividend inflows were led by major regional companies such as MTN Uganda (UGX 61.8b), Airtel (UGX 36b), Equity Bank (UGX 21.5b), and CRDB Tanzania (UGX 18.6b), among others.

Overall, the Fund’s assets under management (AUM) expanded by 17.5%, jumping from UGX 22.1 trillion to UGX 26 trillion.

During the year, member benefits paid out increased from UGX 1.12 trillion to UGX 1.32 trillion, even though the number of claimants slightly declined. Ayota also highlighted the continued success of Smartlife Flexi, NSSF’s voluntary savings product, which has so far attracted UGX 27 billion in contributions.

Looking ahead, the Fund is rolling out its “Vision 2035” strategy, targeting UGX 50 trillion in assets, 50% coverage of Uganda’s working population, and a 95% customer satisfaction rate.

Despite challenges in employer compliance—currently at 52% down from 57%—Ayota said the Fund is engaging businesses to address cash flow issues and improve remittances.

“Our performance demonstrates financial stability in a tough economic environment. It sets us on a solid path for the next decade,” Ayota said.