NSSF to announce savers' interest rate today
The National Social Security Fund (NSSF) closed the financial year 2024/25 with assets of sh26 trillion, a 17.5% rise from sh22.1 trillion the year before.
National Social Security Fund (NSSF) is set announce the interest rate members will earn on their savings for the 2024/25 financial year.
By Vision Reporter
Journalists @New Vision
KAMPALA - The National Social Security Fund (NSSF) will today announce the interest rate members will earn on their savings for the 2024/25 financial year.
The declaration will be made by Finance Minister Matia Kasaija during the Fund’s annual members meeting at the Kampala Serena Hotel. Last year, NSSF paid members 11.5%, translating to sh2 trillion shared among savers.
The National Social Security Fund (NSSF) closed the financial year 2024/25 with assets of sh26 trillion, a 17.5% rise from sh22.1 trillion the year before.
Patrick Ayota
Member contributions increased by 10.4% to sh2.13 trillion, while total revenue climbed to sh3.52 trillion from sh3.2 trillion.
The gains came from higher interest income (up to sh2.88 trillion), a jump in dividend income to sh238b from investments such as MTN and Airtel, and stronger property earnings.
With the Fund reporting record growth to sh26 trillion in assets this year, members and analysts are keen to see if the interest rate will edge higher.