Our Governance
02How governance, legal stewardship and strategic partnerships protect members’ interests, support effective oversight and create lasting value, together with our governance approach and compliance statement.
Corporation Secretary
“As the Fund advances its Vision 2035 ambitions and expands its contribution to Uganda's socio-economic development, governance becomes increasingly important in ensuring that growth remains responsible, risks are appropriately managed and stakeholder interests remain protected. Effective governance provides the confidence and accountability necessary to support sustainable long-term value creation.”
We believe in YOU: A Shared Journey to Inclusive Sustainable Wellbeing reflects our enduring commitment to protecting the interests of our members and key stakeholders, through sound governance, legal excellence, and strategic partnerships. At the Legal and Board Affairs Department, we believe that sustainable wellbeing is built on trust, transparency, accountability, and a governance framework that enables the Fund to deliver lasting value for every member.
As the Fund's principal legal advisory and governance function, the Department continues to play a significant role in supporting the Fund's strategic objectives while safeguarding its legal and institutional integrity. Through the provision of timely legal advice, effective governance support and proactive risk management, the Department enables informed decision-making that promotes operational resilience, long-term value creation, and sustainability.
Serving as Secretary to the Board, the Department remains the vital link between the Board of Directors and management, fostering effective collaboration in strategy formulation, execution, and oversight. During the year, several joint Board and management strategy sessions were successfully coordinated, strengthening strategic alignment and reinforcing a shared commitment to delivering on the Fund's mandate. The strategic sessions also benefited from external perspectives obtained from carefully selected stakeholders from various backgrounds.
Good governance remains the cornerstone of sustainable institutional success. In its role as Governance Adviser to the Board, the Department has supported the Board in providing effective oversight, strengthening governance structures, and enhancing policy frameworks that promote accountability, transparency, and prudent decision-making. These governance foundations continue to create an enabling environment that empowers management and employees to execute the Fund's strategic priorities efficiently and effectively.
During the year, the Department also contemplated the necessary additional interventions to enhance its compliance with the principles of King V™, reinforcing integrated thinking, stakeholder inclusivity, ethical leadership, and governance practices that support sustainable long-term value creation.
The Department also continues to safeguard the Fund's assets and operations by ensuring compliance with applicable laws and regulatory requirements. This includes facilitating the lawful and timely payment of benefits, supporting the recovery of outstanding member contributions from defaulting employers, and securing legal ownership of the Fund's investments and assets. These efforts protect members' savings, preserve the Fund's financial sustainability, and reinforce public confidence in the institution.
Recognising that sustainable wellbeing extends beyond the Fund itself, the Department strengthened strategic partnerships with key stakeholders to advance financial security and social protection. Collaborations with the National Organisation of Trade Unions (NOTU) and the Central Organisation of Free Trade Unions (COFTU) enabled successful outreach programmes in Buikwe and Hoima, enhancing workers' awareness of their rights, social security benefits, and the Fund's mandate.
Strong engagement with the Uganda Law Society and the Judiciary strengthened collaboration on the digital verification of court documents and explored systems integration initiatives that improve the efficiency, integrity, and timeliness of benefit payments. Engagements were also held with the Office of the Directorate of Public Prosecutions and the Uganda Police which aided the Department in its compliance and recovery enforcement mandate.
The Fund's commitment to governance excellence was recognised nationally when it received the prestigious Gold Award for Corporate Governance in the 2025 Financial Reporting Awards (where it emerged as the second Overall Winner). This achievement reflects the strength of the Fund's governance framework, its unwavering commitment to accountability and transparency, and the collective efforts of the Board, management, and staff in upholding the highest standards of stewardship.
Our members remain at the heart of everything we do. Every governance framework we strengthen, every legal safeguard we establish and every strategic partnership we cultivate is guided by one purpose – to protect our members’ interests and support their journey towards sustainable wellbeing. By fostering trust, promoting sound governance, and ensuring legal certainty, the Department continues to contribute meaningfully to the Fund's mission of delivering lasting value for current and future generations.
Together, we believe in our members, and together, we are building a shared journey to inclusive sustainable wellbeing.
Our governance approach, refined over more than four decades, enables NSSF to move beyond incremental progress towards meaningful and sustainable impact. Governance is the mechanism through which the Board safeguards members' interests, oversees strategy execution, monitors performance, and ensures accountability while supporting the long-term sustainability of the Fund.
Governance at NSSF is not viewed as a compliance obligation or a collection of policies, committees, and controls. It is the foundation upon which trust is built and through which value is created, preserved, and protected. The growth of assets under management, expansion of social security coverage, acceleration of digital transformation, strengthening of stakeholder confidence and advancement of our Vision 2035 ambitions are all outcomes supported by governance decisions taken by the Board and implemented through management.
As the Fund evolves, governance becomes increasingly important in balancing opportunity with responsibility. The Board remains committed to ensuring that strategic initiatives, including investments aligned with Uganda's development agenda, are pursued within robust governance, fiduciary, and risk management frameworks.
During the year, NSSF started its transition to the 13 King V™ principles. The Board views this transition not merely as the adoption of a new governance code, but as an opportunity to deepen integrated thinking, strengthen ethical and effective leadership, enhance stakeholder inclusivity, and further embed governance practices that support sustainable long-term value creation.
This chapter should therefore be read not simply as a report on governance structures and compliance activities, but as evidence of how governance contributes to sustainable wellbeing under the theme of the 2026 Integrated Report, We Believe in You: A Shared Journey to Inclusive Sustainable Wellbeing. Governance provides the foundation for trust, stewardship, responsible investment, innovation, accountability and long-term value creation, the very principles upon which sustainable wellbeing depends.
Our governance
The Fund's governance approach is based on the main principles and provisions set out in the UK Corporate Governance Code and the King IV™ Code on Corporate Governance.
The Fund adheres to and ensures full compliance with the provisions of the National Social Security Act Cap 230 that regulates the Fund's activities. The Board also adheres to all other laws that affect the regulatory environment of the Fund's operations and supports management in ensuring full compliance.
The Board is also governed by the Board Charter which stipulates the parameters within which the Board operates and ensures the application of the principles of good corporate governance in all its dealings. The charter sets out the roles and responsibilities of the Board, its committees, and individual Directors, including its composition and relevant procedures of the Board. The charter is aligned with the provisions of the UK Code and King IV™ Code on Corporate Governance. The Board Charter was reviewed to align with emerging trends in good governance.
The way we have continued to apply these governance principles is demonstrated throughout the report. The Board confirms that the Fund, throughout the period under review, complied with all applicable laws and regulations.
NSSF Integrated Report 2026
Start typing to search the Integrated Report.
Download the full report, complete chapters or selected report sections.
No sections selected
