National Social Security Fund (NSSF) has announced a 17% increase in the assets to a UGX 15.5 trillion ($4.4billion) and the comprehensive income went up to 25% from UGX 1.472 trillion shillings to UGX 1.84 trillion.
The announcement was made by the Chief executive officer of the National Social Security Fund, Mr. Richard Patrick Byarugaba ahead of the announcement of the interest rate to members scheduled on 29th of September 2021.
Addressing the media at the release of the Fund’s financial performance, the CEO attributed the increase in the comprehensive income to an increase in the treasury bond in the fixed income. Interest income grew from 1.40 trillion to 1.61 trillion, dividend income grew from 62.2billion to 7.49billion.
It was observed in the report that the members’ contributions went higher by 8%, a sign that some businesses have become resilient amidst the CoVID-19. The resilience could be attributed to the amnesty given by the fund to 1700 companies