NSSF voluntary savings surge ,UGX 21bn saved in just 7 months
The National Social Security Fund has unveiled an ambitious plan to grow its membership from the current 3.3 million to 15 million over the next ten years driven largely by voluntary savers. This follows the strong performance of its new voluntary savings product, Smart Life Flexi, which has already attracted 32,000 savers and UGX 21 billion in contributions within seven months. Speaking at a training on digitization, NSSF Managing Director Patrick Ayota said going digital has significantly reduced administrative costs one of the Fund’s competitive advantages over other savings products like unit trusts. Ronah Nahabwe reports.
