NSSF contributions from Eastern Uganda increased by 35.8% from shs145.2 billion in the year 2022/23 to shs197.2 billion last financial year (2023/24) driven by improved employer compliance.
The number of contributing employers also grew from 4,441 to 5,696 over the same period.
According to NSSF Managing Director Patrick M. Ayota, this increase in contributions reflects a growth trend that dates back five years.
Contributions from the Eastern Region which includes Tororo, Mbale, Soroti, Jinja, and Mukono in 2020/21 stood at shs109 billion from 4,013 employers.
Speaking at the Regional CEO Employer Meeting held in Mbale , Ayota attributed this growth to intensified stakeholder engagement and improved understanding among employees about the importance of their social security.
“We are pleased to see our continued engagement with employers and members yielding tangible results," Ayota said.
"This growth means more Ugandans are securing their financial futures, which underlines our purpose of providing a better life by making saving a way of life.”
The Regional CEO Employer Meetings are part of NSSF’s efforts to strengthen relationships with employers, boost compliance and promote transparency.
Ayota also emphasized the need for more employers to comply with NSSF, urging employees to be vigilant and ensure their contributions are remitted regularly.
During the event, NSSF also honored the region’s top compliant employers for their adherence to statutory obligations.
The recognized organizations included Nile Breweries Limited, Madhvani Group Limited, Tororo Cement Industries, Salem Brotherhood, Hima Cement Limited, Kawacom (U) Ltd, and Local Partner Health Services Karamoja (ANECCA LPHS-K).
The others were Soroti University, Village Enterprise Fund, and Mountain Harvest SMC Limited
NSSF Chief Commercial Officer Geoffrey Sajjabi echoed Ayota’s remarks, highlighting that non-compliance with the NSSF Act is a criminal offence.
He further urged workers to supplement their NSSF savings with voluntary contributions to better prepare for retirement.
“If your employer is saving 10% for you, why not match it with your own 10%? Your NSSF savings alone may not be enough to cover all your retirement needs. Plan deliberately because retirement can be long given the rising life expectancy, and poverty in old age is hard to manage.”