NSSF total income increased by 25% in 2021
By Moses Ndhaye
The National Social Security Fund says the total comprehensive income for the 2020/21 Financial Year increased by 25%, up from Shs1.4Trillion to Shs1.8 trillion, despite the effects of the COVID-19 pandemic.
Releasing the fund’s performance report for the financial year 2021 this morning, the NSSF managing director Richard Byarugaba attributed the increment in the total income to the increased return on Treasury Bonds in the Fixed Income portfolio, dividend income, and property sales.
He says the fund demonstrates its ability to withstand shocks occasioned by a stressed economy and an uncertain business environment in the era of COVID-19 pandemic.
The performance results also indicate that the assets under management increased by 17% from Shs13.3 trillion to Shs15.5 trillion as of June 30th, mainly due to increased contributions by the savers.
Member contributions increased by 8% from Shs1.2 trillion to Shs1.3 trillion.
He says as required by law, the Finance Minister Matia Kasaija will in due course announce the new interest rate on member’s savings at the Annual Members Meeting slated for 29th September 2021.
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