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NSSF collects Shs 1.6 trillion in 2022/23 FY as Fund grows to Shs 18.5 trillion

By Davis Mugabi

The National Social Security Fund -NSSF – has collected Shs 1.6 trillion in mandatory contributions from savers in the just concluded Financial Year, 2022/2023.

This is over Shs 250 billion what the Fund realized in the 2021/22 Financial Year.

NSSF Acting Managing Director, Patrick Ayota told a gathering at the Kololo Grounds on Sunday morning that the contribution means that the Fund has grown to about Shs 18.5 trillion.

Ayota was speaking at the Fund’s annual run. The initiative seeks to better the education sector.

While NSSF’s target was Shs 1 billion by the end of the run, Ayota said only 948 had been realized, and that out of the Shs 948 million, less than Shs 500 million was in cash.

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