#6.
On September 27th, 2019, National Social Security Fund (NSSF) declared 11% interest for the financial Year 2018/2019 to its members. Since 2012/13 NSSF has consistently paid a double digit return to its members.
The Fund in 2012/13 declared 10% interest rate, 11.23% in 2013/14 and 11.50% in 2014/15. In 2015/16, the interest rate rose to 13%, then declined slightly to 12.30% in 2016/17 and 11.23% in 2017/18. In 2018/19 the fund paid a historic high of 15% in the Fund’s 34 years of existence.
Although at 11%, the interest rate paid this year is lower than the 15% paid last year, it is still a real return as it is 4.7 percentage points above the 10 year average rate of inflation (6.71%).
NSSF’s assets under management, stood at UGX 11.3 trillion as at 30th June 2019! Did you know it takes an average of 8 days to claim and receive your NSSF benefits?
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