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NSSF unveils new payment plan

NSSF Head of Marketing Barbra Arimi (L) and NSSF Deputy MD, Patrick Ayota addressing media during the launch. Courtesy Photo.

Kampala, Uganda | THE INDEPENDENT | After consulting a good number of its members, the National Social Security Fund has put in place a benefits payment plan that will allow qualifying members to retain part of their savings with the Fund at the point of exit so as to avoid misappropriation of their savings.

The Deputy Managing Director of the Fund Patrick Ayota unveiled the product on Nov.21 in Kampala dubbed ‘NSSF Draw Down Payment Plan’.

He said it would benefit members who qualify for age and withdrawal benefits. Once embraced by the members, Ayota said it will enable the Fund to have more funds to invest in different areas. Currently it has slightly over Shs10tn worth of assets.

Meanwhile, the Fund was on Nov. 14 declared the overall winner of the 2018 financial reporting awards organised by the Institute of Certified Public Accountants of Uganda (ICPA-U).  It was recognised for having presented an impressive and highly innovative annual report that showed high standards of financial reporting covering areas of environment, social aspects and more.

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