NSSF lauded as informal savings grow to over sh27b
“I am happy to note that the Fund’s flagship voluntary product, dubbed “NSSF Smart Life Flexi” is being embraced by the informal sector as well as the formal sector, with over sh29billion contributions and over 39,000 people mobilised in only 10 months,” Amongi said.
Finance Minister Matia Kasaija with Minister of Gender, Labour and Social Development, Betty Amongi during the NSSF members meeting. (Courtesy photo)
By Prossy Nandudu
Journalists @New Vision
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The Minister of Gender, Labour and Social Development, Betty Amongi, has hailed the management of the National Social Security Fund (NSSF) for including the informal sector, including Boda riders, into the system.
While addressing the 13th NSSF annual members meeting on Monday, September 22, 2025, at the Kampala Serena Hotel, Amongi said after tasking the fund to expand and include employers with less than five employees and people in the informal sector, NSSF adhered to the call.
She added that this was possible through the National Social Security Fund (Voluntary Contributions and Benefits) Regulations, 2024, which she signed.
The regulations are designed to enable the Fund to provide additional products targeting those uncovered segments.
“I am happy to note that the Fund’s flagship voluntary product, dubbed “NSSF Smart Life Flexi” is being embraced by the informal sector as well as the formal sector, with over sh29billion contributions and over 39,000 people mobilised in only 10 months,” she said.
According to NSSF chief Patrick Ayota, in the 10 months the programme has been running since it was rolled out, over 33,000 members have been onboarded and over shillings 27 billion collected.
At the same event, Finance Minister Matia Kasaija announced that savers will earn an interest rate of 13.5%.
He also assured the savers that the fund is healthy with an asset worth sh26 trillion and members' savings amounting to sh2.13 trillion in the financial year 2024/25.