The National Social Security Fund (NSSF) has declared an interest rate of 22.53% for members for the 2025/2026 financial year, significantly increasing the returns credited to workers’ retirement savings.
The rate was announced by Finance Minister Henry Musasizi during NSSF’s 14th Annual Members’ Meeting at Serena Hotel in Kampala.
Under the new rate, NSSF will credit Shs5.44 trillion in interest to members’ accounts, compared with Shs2.79 trillion credited for the previous financial year when the Fund declared an interest rate of 13.5%.
The latest rate represents an increase of 9.03 percentage points from the previous year.
NSSF Managing Director Patrick Ayota said the Fund’s contribution to Uganda’s economy extends beyond the payment of interest to members, pointing to its investments, operations and payouts as key areas of economic impact.
Ayota said NSSF had invested Shs4.32 trillion in Uganda, with approximately 76% of those investments held in bonds.
“If you look at our investments, we impact the nation in three ways: through our investments, our operations, and our payouts to members,” Ayota said.
The interest rate has increased steadily over the past three financial years, rising from 10% in 2022/23 to 11.5% in 2023/24, then 13.5% in 2024/25, before reaching 22.53% for 2025/26.
The development comes as government continues to emphasise the wider economic role of social security funds.
Minister of Gender, Labour and Social Development Gen Herny Tumukunde said social security funds are an important driver of economic growth and should be managed in ways that create sustainable value for workers, businesses and the wider economy.
The higher interest declaration is expected to draw attention from workers and employers as NSSF continues to invest members’ contributions in assets such as government securities and other investments aimed at generating returns for members.
