Our Business

08

NSSF five-year performance review

Explore the Fund's financial performance and value creation over the five years from FY2021/22 to FY2025/26.

Performance graphic with connected business icons

Our Business

NSSF five-year performance review

Income statement

Five-year performance review	Actual FY2021/22 Ushs. Billion	Actual FY2022/23 Ushs. Billion	Actual FY2023/24 Ushs. Billion	Actual FY2024/25 Ushs. Billion	Actual FY2025/26 Ushs. Billion	Budget FY2025/26 Ushs. Billion	Actual FY2025/26 vs Actual FY2024/25 Var %	Actual FY2025/26 vs Budget FY2025/26 Var %	CAGR FY2021/22 – FY2025/26
Total Income	1,776	1,158	3,180	3,515	6,506	3,483	85.1%	86.8%	28.8%
Total Revenue(Core)	1,912	2,201	2,529	3,133	3,883	3,483	23.9%	11.5%	18.0%
Total cost*	203	191	222	230	277	286	20.2%	-3.1%	11.0%
Profit before Interest & Tax**	1,573	968	2,958	3,284	6,229	3,197	89.7%	94.8%	30.1%
Profit after tax	1,393	774	2,742	3,042	5,892	2,901	93.7%	103.1%	31.4%

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Our Business

NSSF five-year performance review

Financial position (UGX Bn)

Five-year performance review	Actual FY2021/22 Ushs. Billion	Actual FY2022/23 Ushs. Billion	Actual FY2023/24 Ushs. Billion	Actual FY2024/25 Ushs. Billion	Actual FY2025/26 Ushs. Billion	Budget FY2025/26 Ushs. Billion	Actual FY2025/26 vs Actual FY2024/25 Var %	Actual FY2025/26 vs Budget FY2025/26 Var %	CAGR FY2021/22 – FY2025/26
Total Assets	17,255	18,560	22,133	26,010	32,867	29,574	26.4%	11.1%	16.1%
Fixed Income Investments	13,061	14,340	17,293	20,523	24,703	23,161	20.4%	6.7%	16.0%
Equity Investments	2,607	2,370	2,924	3,402	5,926	4,296	74.2%	37.9%	20.0%
Real Estate	1,173	1,303	1,538	1,604	1,557	1,727	-2.9%	-9.8%	6.4%
Total Investments	16,842	18,013	21,754	25,529	32,186	29,184	26.1%	10.3%	16.0%
Accumulated Members' Funds	16,962	19,068	21,950	25,547	31,846	29,225	24.7%	9.0%	15.8%

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Our Business

NSSF five-year performance review

Financial performance (%)

Five-year performance review	Actual FY2021/22	Actual FY2022/23	Actual FY2023/24	Actual FY2024/25	Actual FY2025/26	Budget FY2025/26	Actual FY2025/26 vs Actual FY2024/25 Var %	Actual FY2025/26 vs Budget FY2025/26 Var %	CAGR FY2021/22 – FY2025/26
Realised Return on average Investment (%)	11.9%	12.6%	14.4%	13.5%	19.8%	11.9%	46.5%	65.9%	N/A
Cost Income Ratio (%)	11.44%	16.45%	9.59%	7.97%	7.81%	8.21%	-2.0%	-4.8%	N/A
Cost of Administration (%)	1.18%	1.03%	1.00%	0.89%	0.84%	0.97%	-4.9%	-13.1%	N/A

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Our Business

NSSF five-year performance review

Member fund statistics (UGX Bn)

Five-year performance review	Actual FY2021/22 Ushs. Billion	Actual FY2022/23 Ushs. Billion	Actual FY2023/24 Ushs. Billion	Actual FY2024/25 Ushs. Billion	Actual FY2025/26 Ushs. Billion	Budget FY2025/26 Ushs. Billion	Actual FY2025/26 vs Actual FY2024/25 Var %	Actual FY2025/26 vs Budget FY2025/26 Var %	CAGR FY2021/22 – FY2025/26
Contributions Collected	1,486	1,717	1,932	2,128	2,419	2,380	13.7%	1.6%	12.1%
Benefits Paid	1,189	1,199	1,121	1,323	1,549	1,412	17.1%	9.7%	19.3%
Interest Credited to members***	1,380	1,584	2,073	2,797	5,444	2,889	94.6%	88.4%	29.1%

Member's Fund Statistics

Five-year performance review	Actual FY2021/22	Actual FY2022/23	Actual FY2023/24	Actual FY2024/25	Actual FY2025/26	Budget FY2025/26	Actual FY2025/26 vs Actual FY2024/25 Var %	Actual FY2025/26 vs Budget FY2025/26 Var %	CAGR FY2021/22 – FY2025/26
Interest Declared ( %)	9.65%	10.00%	11.50%	13.50%	Pending	12.00%	-100.0%	-100.0%	N/A
Compliance level (%)	55%	57%	57%	52%	56%	60%	7.7%	-6.7%	N/A
Benefits Processing time (Days)	11	11.9	10.1	5.6	4.5	4.6	-20.5%	-3.3%	N/A

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Our Business

NSSF five-year performance review

Customer Satisfaction Rate (%)

Five-year performance review	Actual FY2021/22	Actual FY2022/23	Actual FY2023/24	Actual FY2024/25	Actual FY2025/26	Budget FY2025/26	Actual FY2025/26 vs Actual FY2024/25 Var %	Actual FY2025/26 vs Budget FY2025/26 Var %	CAGR FY2021/22 – FY2025/26
Internal Customers (Staff)	93%	86%	89%	91%	93%	91%	2.2%	2.2%	N/A
External Customers (Members)	86%	88%	87%	88%	89%	92%	1.1%	-3.3%	N/A

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01

Report Overview

01 Introduction 1 pg 02 Reporting Frameworks 1 pg 03 Integrated Thinking 1 pg 04 Our Theme 1 pg 05 Navigating our Report 1 pg 06 Chairman's statement 1 pg 07 Managing Director’s statement 1 pg

02

Our Business

03

Our Strategy

01 Introduction 1 pg 02 Strategy at a Glance 1 pg 03 Reflecting on our Progress 1 pg 04 Delivering Vision 2035 4 pgs 05 Performance Against Strategy 4 pgs 06 Stakeholder Engagement 42 pgs 07 Shared Value 3 pgs

04

Our Governance

05

Our Sustainability

06

Our Performance

01 CFO’s Financial Review 8 pgs 02 CIO Business Review 11 pgs 03 Audited Financial Statements (AFS) 0 pgs 04 Outlook 5 pgs 05 Financial definitions 4 pgs 06 Acronyms 18 pgs 07 Contact us 1 pg

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