The National Social Security Fund (NSSF) has announced record earnings of Shs6.51 trillion for the financial year ending June 30, 2026, representing an 85% increase from Shs3.52 trillion the previous year.
NSSF Managing Director Patrick Ayota told journalists on Wednesday that contributions from members also grew by 13% from Shs2.13 trillion in the financial year 2024/25 to Shs2.4 trillion.
Ayota explained that the growth in earnings was driven by an increase in interest income from Shs2.88 trillion to Shs3.49 trillion. Dividend income from listed equity investments also grew by 55% from Shs238.14 billion to Shs369 billion. Real estate income slightly reduced by 4% from Shs16.6 billion to Shs16 billion.
“The total realised income increased by 24% from Shs3.13 trillion to Shs3.88 trillion. Other income increased by 587% from Shs381 billion to Shs2.62 trillion,” Ayota said.
He noted that the majority of the Fund’s investment is in fixed income in the form of government bonds at 76.5%, down from 80.5% in 2024/25, while 18.4% is in equities and only 5.1% in real estate.
Ayota said benefits paid out increased by 17% from Shs1.32 trillion to Shs1.549 trillion, with over 46,000 members receiving benefits. The growth in contributions and revenue saw an overall increase in the Fund’s Assets Under Management by 26% from Shs26.0 trillion to Shs32.8 trillion.
NSSF also reported Shs180 billion registered in contributions from the Smartlife product, with 64.35% of members using Smartlife to save for investment, financial independence, and school fees.
“We recorded our best performance for the Financial Year ended June 2026, driven by growth in interest income, higher dividend earnings and strong gains across regional equity markets,” Ayota said.
He attributed the performance to a combination of strategic investment portfolio allocation to stable, long-term assets that match members’ savings horizons, a focus on high-quality dividend-paying listed companies, and a sustained emphasis on cost efficiency.
The performance report also indicated that the Fund’s cost of administration declined by 4.5% to 0.84% in the 2025/26 financial year from 0.88%, while the cost-to-income ratio eased to 7.7% from 7.9%.
“For every shilling we spent, we made over Shs29 for the member. We are not just preserving, but most importantly, we are creating value for the member,” Ayota said.
Ayota also pointed out that NSSF Uganda’s improved performance extended to its operational side of the business, reflecting the Fund’s commitment to efficiency and member value.
