The National Social Security Fund (NSSF) (also NSSF Uganda), is a quasi-government agency responsible for the collection, safekeeping, responsible investment, and distribution of retirement funds from employees of the private sector in Uganda who are not covered by the Government Retirement Scheme. Participation for both employers and employees is compulsory. The Uganda National Social Security Fund is the largest pension fund in the countries of the East African Community, with total assets of USh26 trillion (approx. US$7.397 billion), as of June 2025.
History
In February 2009, the President of Uganda fired the minister of finance, whose ministry supervises the activities of NSSF. Also terminated were the managing director of the NSSF. A new board of directors and a new management team were appointed in 2009.[2]
In late 2010, NSSF underwent a restructuring process aimed at making it more efficient, competitive, and responsive to the needs of its members. It was then poised to provide a wide range of social security products and be the lead institution for domestic capital formation and deepening the financial sector.[3] Analysts in the country said in 2013 that the NSSF had become a leading player in the country's economy.[4]