NSSF urges employees to save for future
By Geoffrey Onyanga
The National Social Security Fund (NSSF) has urged employees to register and save with the Fund.
Regional Manager Alfred Ogwang noted that, by law, every employer with more than one employee is required to register with NSSF but many are failing to comply.
“Many employers are breaking the law, even though they are supposed to register and remit monthly deductions from their employees,” he said.
Ogwang made the remarks during the pass-out ceremony of 36 Small and Medium Enterprises trained by the Uganda Development Bank at Lira University recently.
He added that the government has introduced good programs, and it is up to the people to find ways to benefit from them.
He said that the NSSF was established across the country to safeguard citizens after retirement but the majority are not taking the advantage.
NSSF, Ogwang said, has three cardinal roles: registering members, collecting remittances, and investing those funds so they can be paid back to members.
Morris Chris Ongom, the Director of the Uganda National Chamber of Commerce (Lira Branch), advised business communities to save with the National Social Security Fund (NSSF), noting that it offers better interest rates.
He added that saving with NSSF is more profitable compared to saving in banks, which generally provide very little interest.
The NSSF Uganda is a quasi-government agency mandated to provide social security services to private-sector employees through the collection, investment, and distribution of retirement funds.
The fund invests its assets primarily in fixed income (around 80%), equities, and real estate within the East Africa region.
Ogwang added that currently NSSF contribution is a total of 15% of theemployee’s gross monthly wage, with the employer contributing 10% and the employee contributing 5%. This is the standard rate for contributing employers in Uganda.
It manages total assets worth over UGX 26 trillion (approximately US$7.397 billion) as of June 2025. It is the largest pension fund in the East African Community.
Caption: Ogwang speaking to participants at Lira University during passing out of SMES
