National Social Security Fund (NSSF) members will get 11.5% as interest for their savings and this will be credited to their accounts.
The development was announced the Ministry of Finance on Thursday during the members’ annual general meeting held at Kampala Serena Hotel.
The interest is higher than the 10% paid out to members last year.
Earlier this month, NSSF announced that its earnings for the year ended June 2024 had gone up by 15% from shs2.2 trillion to shs2.53 trillion.
This was on account of a surge in interest, dividend and incomes from real estate.
“Income from all three asset classes we invest in increased this last financial year compared to the previous one. Interest income increased from shs2 trillion to shs2.34 trillion, dividend income from our listed and unlisted equities increased from shs145.1billion to shs175 billion and income from our real estate investments also increased from shs11.9 billion to shs13.3 billion,” NSSF Managing Director, Patrick Ayota said last week.
According to the figures, NSSF’s dividends grew by 21% partly because of investments in MTN and Airtel.
Dividends from mtn alone were 40.5bn from 30bn the previous year while shs22 billion was made from the Airtel investment by NSSF.
