Financial & Operational Highlights


Asset Growth (UGX 'Bn)

Asset size has significantly grown over the past five years posting a CAGR of 15% driven by investment capital expenditure that is undertaken from the increasing member contributions and incomes which are growing at a higher rate than the outflows in the form of operational expenditure and benefit pay-outs.

Total Income (UGX 'Bn)

Total income constitutes interest income, real estate income, dividends, other income earned, and a share of results from associates. This has grown by a CAGR of 3% over the past five years with the major contributor being treasury bonds invested in the East African Region. The decline in FY2021/22 from FY2020/21 was due to foreign exchange and capital losses incurred on our regional investments because of the disrupted global economy.

Accumulated Members' Fund (UGX 'Bn)

Accumulated members’ fund constitutes member contributions, interest credited to member accounts less the benefits paid out. This has grown by a CAGR of 16% in the last five years driven by the growing member contributions, increasing interest credited to member accounts net benefits pay-outs.

Growth in Contributions Collected (UGX 'Bn)

Contributions from members have grown by a CAGR of 9% in the past five years driven by new members’ and employers’ registration and the increased focus on growing the voluntary membership plan in the past five years.

Cost of
Administration (%)

The Fund’s Cost of Administration increased for the first time in the last five years due to a provision for restructuring arising from the organisational redesign aimed at aligning the Fund’s operations with requirements of the NSSF Amendment Act 2022.

Benefits Turn Around Time (Days)

The turnaround time for benefit pay-outs was 12.3 days in FY2021/22. This was higher than the previous year because of the introduction of midterm access benefits that required realigning Fund systems to accommodate the new requirements.

Benefits Paid (UGX 'Bn)

Benefits paid grew by a CAGR of 35% in the last 5 years. The significant increase in FY2021/22 was due to midterm benefits pay-outs introduced during the year by the NSSF Amendment Act 2022. These accounted for approximately 37% of the total benefits paid during the year.

Compliance Level (%)

The one-month compliance closed at 55% as at 30 June 2022. This improved slightly from the previous year due to the full opening of the economy in January 2022. The opening reignited the education and entertainment sectors that had remained closed due to Covid-19 restrictions.



This year, the Fund participated in the International Customer Experience Awards which were held in the UK to celebrate the accomplishments of organisations in customer experience (CX) all over the world. The Fund emerged as the Gold and Silver winner in three categories out of the four nominations that made it to the finals. The Fund is the first organisation from Africa to win these prestigious awards.


The Building and Construction Authority (BCA) granted a provisional BCA green mark award (certified) for Lubowa Housing Development. Once construction has been completed, the Fund will ensure that the green features are verified in accordance with environmental sustainability performance requirements. This is the first project in the region to win such an award.


The Uganda Law Society recognised the Fund as the Best In-house Legal Team of the year 2021–2022 for:
  • Exceptional performance in managing the Fund’s legal risk
  • Achieving consistent success in significant court matters
  • Recovering approximately UGX 20Bn in unremitted social security contributions
  • Providing pro bono legal services to indigent persons in collaboration with strategic partners


Our Lubowa Housing Estate (Solana Lifestyle & Residences) scooped the following awards at the International Property Awards:
  • Best Residential Development in Africa, International Property Awards, 2020/2021
  • Best Mixed-Use Development in Uganda, International Property Awards, 2020/2021
  • Best Residential Development Uganda, International Property Awards, 2020/2021