NSSF declares record 22.53% interest rate for 2025/26

The National Social Security Fund (NSSF) has announced a record interest rate of 22.53 percent for the 2025/2026 financial year. This represents a significant increase from the 13.5 percent rate declared for the previous year. The interest payout is expected to total approximately 5.44 trillion shillings, the highest volume in the Fund's history.

NSSF reported strong financial growth, with annual revenues surging 86 percent to 6.51 trillion shillings and assets under management rising to 32 trillion shillings. The Fund attributed this performance to economic growth, strong East African stock market performance, and currency appreciation.

During the 14th Annual Members’ Meeting, Gender, Labour and Social Development Minister Henry Tumukunde raised concerns regarding the competence of the NSSF board and management. He questioned whether the current governance structure, including the inclusion of trade union leaders and government officials, ensures the necessary technical expertise to oversee trillions of shillings in savings. Tumukunde urged the Fund to adopt a private-sector mindset and ensure its investments actively drive the national economy.