National Social Security Fund asset base has hit shs 25trillion mark, Patrick
Ayota the funds Managing Director told suppliers in Kampala.
The fund now eyes growing the business to 50 trillion by 2035 and country
coverage by 50%.
“We thank God. We thank our staff, various Boards of Directors over the
years, our supervising ministries, and all who have made this possible. We
are now on the brink of a new era – a new day where we aim to redefine
what’s possible once again. Our next goal is to grow Assets Under
Management to Ushs 50 trillion by 2035,” Ayota said
In 2015, the Fund launched the 2015-2025 Strategic Plan, with a key
strategic objective to grow the Fund’s Assets Under Management to Ushs
20 trillion by 2025.
The other strategic objectives were improvement in business processes to
pay benefits to qualifying members in one day and achieving 95% staff and
customer satisfaction.
“The unwavering commitment to deliver our value preposition of safety,
convenience, and empowerment to our members, has propelled the Fund
to achieve this milestone.”Ayota said.
He added that the key drivers that enabled the Fund to achieve the
milestone are consistent growth in both contributions from members and
income from the Fund’s investments.
Information from the Fund shows that contributions increased from only
Ushs 688 billion in 2015 to Ushs 1.27 trillion in 2020 and hit Ushs 1.72
trillion by 2023.
Despite the volatile economic environment over the last 10 years, income
has also consistently increased. In 2015, the Fund’s income stood at Ushs
583.2 billion, but rose to Ushs 1.47 trillion by 2020. Last Financial Year, the
Fund recorded Ushs 2.2 trillion in realized income.
