The National Social Security Fund (NSSF) is a provident Fund mandated by the Government of Uganda through the National Social Security Fund Act, Cap 222 (Laws of Uganda). The National Social Security Fund (NSSF) (also NSSF Uganda), is a quasi-government agency responsible for the collection, safekeeping, responsible investment, and distribution of retirement funds from employees of the private sector in Uganda who are not covered by the Government Retirement Scheme. Participation for both employers and employees is compulsory. The Fund covers all employees in the private sector that are not covered by the government’s pension scheme.
Our purpose is to make lives better. The NSSF was established by the NSSF ACT in 1985 and has its headquarters at the 14th Floor Workers House, Kampala, Uganda. To be the social security provider of choice. We are committed to achieving higher levels of customer satisfaction through continuous improvement in our services.
Over the years, the NSSF has undergone several restructuring processes to make it more efficient and responsive to the basic needs of its contributors. Here is everything you need to know about NSSF and how it works in Uganda.
Since 2012, the Fund is regulated by the Uganda Retirement Benefits Regulatory Authority while the Minister of Finance, Planning and Economic Development is responsible for policy oversight.
Financial Performance and Investments
The NSSF is a defined contribution scheme and is financed largely by contributions from employers and employees. The Uganda National Social Security Fund is the largest pension fund in the countries of the East African Community, with total assets of USh26 trillion (approx.
Read also: Exploring Chad's Fauna
The NSSF's total assets as of 30 June 2014, were valued at UGX:4.4 trillion. In October 2017, The Independent, a Ugandan English language newspaper, estimated the NSSF total assets at USh7.9 trillion (approximately US$2.48 billion at that time), as of 30 June 2017. By June 2018, those assets had increased to USh9.98 trillion ($2.678 billion). As of 30 June 2020, NSSF Uganda managed a total asset portfolio of USh13.38 trillion ($3.627 billion). This was a 17 percent increase from UGX11.3 trillion ($3.064 billion), as of 30 June 2019. As of June 2021, NSSF Uganda controlled UGX:15.5 trillion (US$4.406 billion) in total assets. NSSF Uganda controlled total assets valued at UGX:18.58 trillion (US$4.981 billion), as of 30 June 2023. As of 30 June 2024 total assets under management were USh22.13 trillion (US$6.065 billion). As of 30 June 2025, total assets were UGX26 trillion (approx.
Due to the negative impact of Covid-19, Uganda experienced revenue shortfalls and had to issue more treasury bills and bonds. For the first time, Uganda issued a 20-year bond and this presented an investment opportunity for the Fund. Additionally, the rise in government interest rates attracted foreign investors leading to foreign currency inflows.
Real Estate Holdings
Significant real estate holdings include Workers' House in the centre of Kampala, Uganda's capital city, where NSSF maintains its head office, and City House Jinja, in Jinja, developed between 2015 and 2018, at a cost of USh3.5 billion (approx.
Beginning in the early 2000s, NSSFU has been developing an office complex known as Pension Towers, along Lumumba Avenue, on Nakasero Hill, one of the most prestigious neighborhoods in Kampala, Uganda's capital city. The complex consists of three interconnected towers; one central tower of twenty-five stories in height, flanked on either side by a ten-story tower.
When finished, the three towers will contain in excess of 59,410 square metres (639,500 sq ft) in office space. Jinja City House is owned by the Uganda National Social Security Fund (NSSF), who developed the building, between 2015 and 2018. The building houses the NSSF offices in Jinja and the remaining space is rented out to qualified businesses and corporations. The mixed use building consists of 1,500 square metres (16,146 sq ft) on four floors, of which 1,200 square metres (12,917 sq ft) are rentable. Mbarara City House, is the second NSSF real estate investment outside the capital city of Kampala.
Read also: History of Cameroon Soccer
NSSF REGISTRATION GUIDE: HOW TO REGISTER AS A MEMBER ON NSSF PORTAL
Accessing Your NSSF Account
Gone are the days when someone had to visit NSSF offices to check their NSSF account and access other services. Thanks to technological advancements, NSSF members can now access their NSSF accounts using computers or mobile phones. The following are the different channels you can use to check your NSSF account:
- NSSFGo App
This app is undoubtedly one of the easiest and most convenient ways to check your NSSF account in Uganda. By downloading the NSSFGo app, you'll be able to check your account balance. You can also confirm your salary growth rate, make voluntary contributions, see your employment history, get e-statements, claim your NSSF benefits, and glimpse your retirement payout. The app also lets you become an NSSF member if you're not one. The application is available to Android and iOS users.
- SMS
If you don't have access to an internet connection, you can still check your NSSF account using a feature phone or mobile phone by sending a text message to 6773. This service allows you to access the following services:
- Get a mini statement by sending MINI to 6773
- Confirm your NSSF account balance by sending BAL to 6773
- Check your benefits claim status by sending CLAIM to 6773
- USSD code
You can also access NSSF services on your phone using a USSD code. The best thing about this channel is that it works on all kinds of phones. Follow these steps to register for an NSSF account using the USSD option:
Read also: Ghana Soccer Jersey
- Dial *254# and choose your preferred language.
- Tap on 'Register Member' and then proceed to provide your details.
- Enter your National Identification Number.
- You'll receive a text message with your NSSF number.
- Toll-free number
Finally, if you have any inquiries or requests concerning your NSSF account, you can speak to an NSSF customer care agent via 0800286773, a toll-free number.
Accessing NSSF Benefits
The following are the different circumstances under which you can access your NSSF money in Uganda:
- If you're an expatriate or a Ugandan who has decided to leave Uganda, the fund is well accessible.
- If you get a job that provides another social security scheme alternative, that is exempted from contributing to the NSSF fund. This includes the army, civil service, and police.
- You can also access your NSSF money at 50 if you've been unemployed for at least a year.
The Midterm Access
A member who has made contributions to the Fund may access his or her benefits accrued from those contributions at any time under the following regulations:
- Is 45 years of age or older and has contributed to the Fund under Section 7 of the Act for at least ten years, is eligible for midterm access benefits in an amount not exceeding 20% of his or her accrued benefits.
- Is forty years of age or older; and has contributed to the fund under Section 7 of the Act for at least ten years, is eligible for midterm access to a sum equal to half of their accrued benefits.
- Is a person with disability.
How to Claim NSSF Benefits Online
If you'd prefer to access your NSSF account online, there are several channels you can use. At the NSSF office, you'll be required to fill out a form with all your details and then wait for the agency's response. On the other hand, you can follow these steps to claim your NSSF benefits online:
- Download the NSSFGo app on your preferred device or visit the NSSF web app
- Scroll down to the Benefits section and then select 'Benefits Application.'
- Fill out all the fields with all the relevant details, including benefit type, your preferred payment method, bank account, employment status, and your address. You should also submit other supporting documents.
Once you've submitted all your details, you'll be able to track your benefits claim in real-time until you receive the payment.
Withdrawal Limits and Retirement Age
- How Much Can I Withdraw From My NSSF Account? According to the new law, you can withdraw up to 20% of your NSSF contribution once you reach 45 years old. Once you attain the age of 55, you're allowed to withdraw your NSSF money in bits rather than a lump sum. The remaining balance then continues to receive annual interest with the addition to the interest rate announced every financial year.
- What Is the NSSF's Retirement Age? The NSSF Uganda retirement age is 55 years. However, NSSF members can opt to receive their payments if they reach the age of 50 and have already retired from regular employment.
- What Is the Maximum I Can Withdraw From My NSSF Account in Uganda? If you're over 55 years, the maximum amount of money you can withdraw from your NSSF account at a go is 50% of the accrued benefits. After that, you'll only be allowed to withdraw your NSSF money in instalments of 10% or 5% at any particular time until all accrued benefits are depleted.
Additional Benefits and Information
- Does NSSF Offer Free Banking? NSSF offers free banking. Ugandans can enrol in an NSSF voluntary membership plan to make a monthly payment of contributions to the fund based on their income and life aspirations. The NSSF fund allows such members to change the amount they wish to contribute. It is an efficient and reliable form of free banking for savers who want a secure retirement plan for themselves and their families. Additionally, NSSF partners with the Bank of Uganda every year to offer financial literacy lessons to NSSF members who have received their savings. This financial literacy campaign intends to bridge Uganda's economic and investment gaps.
Benefits for NSSF Members
The NSSF fund in Uganda offers various benefits to its members. These benefits include;
- The pension benefit. It is available to those who have attained age 55 and have been steadily contributing to the fund.
- The withdrawal benefit. It is open to members who have reached 50 but have already retired from regular employment.
- Survivor benefit. It is payable to surviving spouses, dependents, or relatives of the NSSF member.
- The invalidity benefit. This benefit is payable to NSSF members who have developed a temporary or permanent disability that bars them from working.
- Emigration benefit. This benefit is payable to foreigners and Ugandans permanently leaving the country.
Minimum Age to Access NSSF Benefits
The minimum age to access NSSF benefits is 45 years old, provided that you've been saving with the NSSF fund for at least ten years.
What Is the NSSF Account Balance?
The NSSF account balance refers to the amount of money you've contributed to the NSSF fund since you started working.
Enrolling in NSSF is a great way to secure your future and family.
The Fund is a contributory scheme and is funded by contributions from employees and employers of 5% and 10% respectively of the employee’s gross monthly wage.
On the side of regulation, the uncertainty surrounding the outcome of the NSSF Amendment Bill was augmented by the effects of the pandemic with additional clauses introduced that required more time for consideration. The evolving and challenging environment necessitates adaptation and reinvention for business continuity and sustainability. The growth outlook in general appears to be getting back on track, albeit with greater and ongoing downside risk that will continue in line with the headwinds from the Covid-19 pandemic.
Popular articles:
tags: #Uganda
