The ministry of Finance has announced that the National Social Security Fund will be paying its members at 11.23% for the financial year 2012/13 following tremendous performance.
The state Minister for finance in charge of planning, Matia Kasaija said that the members of the National social Security Fund who had balance as per the 1st of July last year will be getting their savings at an interest rate of 11.23%.
Announcing the increment in the interest rate from 10% paid to NSSF members last financial year, Kasaija commended the fund for improved performance.
The NSSF Managing Director Richard Byarugaba attributed the improved performance to aggressive investment with Uganda and in other countries in the East African region.
Byarugaba said that in addition to the aggressive investment, the fund managed its operations cost well that remained very low, which resulted into good returns for the fund that can be translated into better payments for the members.