May 13, 2013

NSSF Gets Lincense To Run Retirements’ Scheme

The National Social Security Fund (NSSF) today secured a license to continue operations as a Retirement Benefits Scheme, in accordance with the Uganda Retirement Benefits Regulatory Authority Act of 2011.

NSSF MD Richard Byarugaba
NSSF MD Richard Byarugaba

Managing Director Richard Byarugaba received the license from the Uganda Retirement Benefits Regulatory Authority (URBRA) Board of Directors Chairman, Andrew Kasirye at URBRA offices in Kampala.

“This is another milestone that confirms that we are ready and we are primed to maintain our position as market leaders in the sector. It is reaffirmation to our members that we are indeed ahead of potential competition,” Byarugaba said.

NSSF recently launched a new brand and also held its first ever Annual Members Meeting. Both events came at the back of an impressive operational and financial performance last Financial Year during which the Fund grew to Ugx 3.1 trillion. NSSF also declared 10% interest rate to its members, a total of Ugx. 202 billion paid into members’ accounts.

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