Compliance
The Board governs compliance with applicable laws and adopted policies, codes and standards in a way that promotes ethics and responsible corporate citizenship.
Outcomes supported
Compliance governance
Compliance, ethics, and responsible corporate citizenship underpin long-term sustainability and value creation. The Board, through the ARC, oversees compliance with applicable laws, regulations, and governance standards, supported by a proactive compliance framework, independent assurance, and continuous regulator engagement.
The requirements of this principle are achieved because NSSF has the following in place:
Regulatory compliance
How it is governed
ARC oversees compliance through regular monitoring and reporting.
Evidence / outcome
Full compliance with the NSSF Act Cap 230, the PPDA Act, the National Audit Act, King IV™ (transitioning to King V™), and the UK Corporate Governance Code, amongst others, with no material breaches reported during FY2025/26.
Value created
Protects member interests and sustains stakeholder confidence.
Compliance management
How it is governed
A Board-approved Compliance Management Policy and Manual is monitored quarterly by ARC through reports from the Legal and Board Affairs Department.
Evidence / outcome
Ongoing oversight of regulatory obligations, policy implementation, and emerging compliance risks.
Value created
Strengthens governance effectiveness and organisational resilience.
Ethics and conduct
How it is governed
Ethical conduct is supported through the Ethics Policy, Code of Conduct, conflict-of-interest declarations, and independent whistleblowing arrangements.
Evidence / outcome
Annual conflict declarations, confidential reporting channels, and ongoing ethics awareness programmes.
Value created
Builds trust, accountability, and organisational integrity.
Assurance and oversight
How it is governed
Internal Audit provides independent assurance over governance, risk, and controls under ARC oversight.
Evidence / outcome
An external quality assessment in FY2024/25 confirmed conformance with the IIA Global Internal Audit Standards.
Value created
Enhances confidence in internal controls and governance processes.
Stakeholder and regulatory engagement
How it is governed
The Fund maintains active relationships with regulators, professional bodies, and governance institutions.
Evidence / outcome
Ongoing engagement with the Attorney General's Office, PPDA, Uganda Law Society, Judicial Training Institute, ICGU and the Financial Intelligence Authority.
Value created
Strengthens institutional credibility and regulatory relationships.
Corporate governance
How it is governed
Governance practices are aligned with King IV™ and supported by regular policy and Board reviews.
Evidence / outcome
Independent Chairman; separate Chairman and Managing Director roles; nine Non-Executive Directors; Board effectiveness reviews; governance disclosures included in the Integrated and Sustainability Reports.
Value created
Supports governance maturity, accountability, and long-term sustainability.
Responsible corporate citizenship
How it is governed
Sustainability, ESG and stakeholder considerations are integrated into strategy and decision-making.
Evidence / outcome
Responsible business practices embedded across the Fund.
Value created
Creates long-term value for members, communities, and the broader economy.
The Fund's compliance governance extends beyond regulatory compliance to ethical leadership, effective oversight, and responsible corporate citizenship, reinforcing a culture of integrity, accountability and transparency that supports stakeholder confidence and sustainable value creation.
Area for future focus
Further strengthen employer compliance; engage proactively on IFRS S1/S2-related regulatory change; progress AI governance policy.