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The National Social Security Fund (NSSF) has today declared an interest rate of 12.15% for the financial year 2020/2021. This was announced by the Minister of Finance, Planning and Economic Development, Matia Kasaija, during the Fund’s 9th Annual Members Meeting held at Kampala Serena Hotel. The rate declared translates into a total of UGX1.52 trillion that will be credited to the members’ accounts, higher than the UGX1.14 trillion that was paid to members in the previous financial year. “As provided for in the NSSF Act, this new rate will be calculated and credited on the balance outstanding on the members’…
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Minister of finance, Planning and Economic Development, Matia Kasaija addressing NSSF members during the Fund’s 7th annual members’ meeting in Kampala The National Social Security Fund (NSSF) has today declared an interest rate of 11% for the Financial Year 2018/2019 to its members, over and above the 10 year average rate of inflation now at 6.71%. This was announced by the Minister of Finance, Planning and Economic Development, Matia Kasaija, during the Fund’s 7th Annual Members Meeting at Serena Hotel. The interest declared is lower than last year’s 15% interest due to a decline in regional equity prices and strengthening…
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Despite a 13.1% increase in NSSF’s assets under management, from UGX 10.0 trillion to UGX 11.3 trillion as at 30th June 2019 and despite realized income growing by 20.4% from UGX 1.05 trillion in 2017/2018 to UGX 1.26 trillion in 2018/2019 due to increased gross Interest income from Treasury and Infrastructure bonds, NSSF has warned that it will pay a lower interest rate to its members for the Financial Year 2018/19 on account of a drop in its total income compared to the previous year. Addressing the media at NSSF’s headquarters, at Workers House, Kampala today , NSSF Managing Director…
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