Performance against strategy

This year, the Fund’s brand health rating improved from 78% to 80%, reflecting growing public confidence in the safety and performance of member savings. This was driven by our consistent returns, prudent investment strategy, and a reputation for strong governance. Our committment to transparency, clear performance communication, and demonstration of long-term financial stability has strengthened our position as a secure and reliable custodian of savings. Members and the wider public increasingly recognise the Fund’s role in delivering strong returns, managing resources responsibly, and safeguarding their financial future.

Looking ahead, we will build on this momentum by deepening stakeholder engagement, enhancing service delivery, and increasing visibility of the positive impact our investments have on members’ and the broader economy.

The Fund delivered strong financial results in 2025, with monthly contributions rising to UGX 178 billion and a gross return on investment of 13.6%, sustaining solid growth in assets under management. Although employer compliance declined to 52%, largely due to a serge in newly registered employers who had not yet begun remitting contributions, total collections still increased.

The expense ratio reached a historic low of 0.89%, reflecting the success of value-based budgeting and disciplined cost management. These results position the Fund to meet its long-term growth ambitions, including the 2026 monthly contribution target of UGX 198 billion and the Vision 2035 goal of UGX 50 trillion in assets under management.The year ahaed will focus on restoring compliance, sustaining investment performance, and maintaining operational efficiency.

In line with our goal of increasing efficiency to improve service delivery, the Fund made remarkable progress in reducing the turnaround time for benefit payments. Through process reorganisation, improved approval workflows, and a focus on operational excellence, we reduced the TAT to a record low of 5.6 days, compared to 10.1 days the previous year. This significant improvement reflects our commitment to delivering timely, reliable services to our members while continuously streamlining internal systems.

We also advanced our product innovation agenda by successfully launching Smartlife Flexi, following regulatory approval from all oversight bodies. Enabled by the amended NSSF Act, this product aligns with ILO Convention 102 and expands the scope of social security for Ugandans. Together, these achievements highlight the Fund’s growing agility and responsiveness to regulatory change and evolving member needs.

The overall staff engagement score rose to 91%, up from 89% last year, reflecting the Fund’s commitment to building a supportive, empowering, and purpose-driven workplace culture.

Notably, previously lagging engagement measures showed significant improvement, contributing to a strong core engagement score of 91% and signalling a deeper sense of commitment, trust, and alignment between staff and the Fund’s mission.