The National Social Security Fund (NSSF) has declared a 13.5 percent interest rate for its members for the financial year 2024/2025, marking the highest return to savers since 2017 when the fund paid out 15 percent.
The announcement was made on Monday, September 22, 2025, during the Fund’s Annual General Meeting in Kampala. The declaration comes as a significant boost to the 2.3 million NSSF members, especially after years of relatively modest payouts, with 11.5 percent paid last year and 10 percent in the previous year.
Speaking at the AGM, NSSF officials attributed the increase to strong investment performance, improved compliance from employers, and gains from a diversified portfolio spanning fixed income, equities, and real estate.
“This year’s performance reflects the resilience of the Fund and its commitment to delivering real value to members despite economic challenges,” said the NSSF Managing Director.
The 13.5 percent translates into more than Shs 2.5 trillion that will be credited to member accounts, a figure that surpasses the Shs 2 trillion distributed last year.
While savers welcomed the increment, analysts noted that inflationary pressures and a weakening shilling could still erode the real value of returns. Uganda’s annual inflation rate currently hovers around 5 percent, meaning members will still enjoy positive real gains on their savings.
The Fund’s declaration also positions NSSF among the best performing retirement schemes in East Africa, where many counterparts have posted single-digit returns.
NSSF is Uganda’s largest provident fund, managing assets worth over Shs 20 trillion. The announcement comes amid growing public scrutiny of the Fund’s governance and investment strategies, but officials said the results demonstrate long-term sustainability.