By Watera Atai,
KAMPALA:
Members of the National Social security Fund (NSSF) will soon have their wallets vomiting monies after the fund said it pay to them a higher interest for the financial year 2021/2022
This was disclosed by the minister of finance Matia Kasaija on Wednesday at the fund’s 9th Annual members meeting in Kampala.
Kasaija was officiating the meeting when he declared a 12.15% interest rate on savings, higher than the 10.75% paid by the fund in the last financial year.
According to Kasaija, the fund will now pay shs 1.52 trillion to all its members which is an increase from the shs 1.14 trillion paid last financial year.
Kasaija has urged Ugandans to adopt the culture of saving saying the pandemic has taught many a tough lesson.
The NSSF Managing Director Richard Byarugaba says the fund grew its asset base by 17% translating into shs 15.5 trillion largely driven by investment incomes.
He adds that their biggest growth was registered in incomes from 1.4 trillion to shs 1.8 trillion.
In the 2017/18 financial year, NSSF paid the highest interest rate to its members of 15%.
