Business 24 September 2026 Daily Monitor (Uganda)
NSSF announces record-breaking 22.5% interest rate for savers
The National Social Security Fund (NSSF) has declared an unprecedented 22.53% interest rate for its 3.6 million members, exceeding all previous records and bringing joy to savers across Uganda. This significant increase reflects the Fund's strong financial performance over the past fiscal year. Source: https://www.monitor.co.ug/uganda/news/national/nssf-interest-rate-hits-all-time-high-what-savers-need-to-know-5607904
Savers with the National Social Security Fund (NSSF) are celebrating a landmark achievement as the Fund announced a record-breaking interest rate of 22.53% for the financial year. This announcement, made during the NSSF’s 14th Annual Members’ meeting, has surpassed all previous interest rate declarations, delighting the Fund’s 3.6 million members.
The declaration signifies a substantial return for savers, with the Fund crediting a total of Shs5.44 trillion to member accounts. This figure is notably higher than the Shs3.88 trillion collected in cash during the same period, underscoring the Fund’s successful investment strategies.
NSSF’s total income performance also saw a dramatic increase, growing from Shs3.5 trillion to Shs6.51 trillion. This robust financial growth has enabled the Fund to offer such a high interest rate, a move that has been met with widespread jubilation among its membership.
The impressive performance has led to discussions about NSSF’s role beyond just social security. There’s a growing sentiment, echoed by figures like Gen. Tumukunde, that the Fund should actively contribute to economic development, acting as a catalyst for broader growth in addition to providing essential social security benefits.
This record interest rate highlights NSSF’s financial strength and its commitment to delivering value to its members, promising a brighter financial future for many Ugandans relying on their savings. The Fund’s ability to generate such returns, even beyond its cash collections, points to effective financial management and investment acumen.