NSSF

The National Social Security Fund (NSSF Uganda) is a National Saving Scheme mandated by Government through the National Social Security Fund Act, Cap 222 (Laws of Uganda) to provide social security services to employees in Uganda. NSSF Uganda is a provident Fund that covers all employees in the private sector including Non-Government Organizations’ that are not covered by the government’s pension scheme.

The Fund is a contributory scheme and is funded by contributions from employees and employers of 5% and 10% respectively of the employee’s gross monthly wage. Since 2012, the Fund is regulated by the Uganda Retirement Benefits Regulatory Authority while Minister of Finance, Planning and Economic Development is responsible for policy oversight. The Fund manages assets worth over UGX 13.7 trillion invested in Fixed Income, Equities and Real Estate assets within the East Africa region.

Following amendments to the NSSF Act, the Fund is required to increase coverage by extending social security to the informal sector through voluntary savings. In addition, members of the Fund already contributing under the mandatory scheme can save over and above the normal mandatory contributions. We recognize that to cover this expanded mandate, the Fund must come up with strategies that are designed to appeal to the new segments of savers and craft products that are relevant to the market. As such, the Voluntary Business Unit has been set up to undertake this ambitious effort. We, therefore, seek an individual with the experience, skills, and ambition to spearhead the innovations within the voluntary saving space and provide leadership to the voluntary team.