National Social Security Fund | NSSF’s Smartlife Flexi registers UGX3billion in Savings

NSSF’s Smartlife Flexi registers UGX3billion in Savings

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Thursday, February 6 2025 3:27 pm

By Christine Kasemiire Public Relations Officer  Follow on LinkedIn

Savings Digest - Issue 1

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NSSF’s voluntary savings plan, Smartlife Flexi, has experienced rapid growth, accumulating over UGX 3 billion since it started last year.

Launched on November 20th, 2024, Smartlife Flexi was introduced to increase social security coverage, targeting existing NSSF members, and non-NSSF members in the formal sector, the informal sector, and the diaspora. 

As of January 2025, the product has enrolled 9,000 customers, with their combined contributions totalling UGX 3 billion.

NSSF Smartlife Flexi Savings Plan, follows the publication of the National Social Security Fund (Voluntary Contributions and Benefits) Regulations, 2024, by the Minister of Gender, Labour and Social Development Hon Betty Amongi, on November 8, 2024.

At the launch of Smartlife Flexi, NSSF Managing Director Patrick Ayota said that the NSSF Voluntary Savings Plan is borne out of the amendments to the NSSF Act that now empowers the Board to develop and introduce new products and benefits.

“The NSSF Smartlife voluntary savings plan is flexible enough to enable a saver to choose mid to long-term savings goals but also offers an opportunity for optional affordable offerings,” Ayota said.

 

L-R(Thadeus Musoke, the KACITA Chairman, Vanessa, the 1st Smartlife Flexi Customer, Dr David Ogong, NSSF Board Chairman, Hilda Nakagga from the Ministry of Gender, Patrick Ayota, the Managing Director NSSF, Ms Agnes Tibayeita, the Corporation Secretary NSSF and Apollo Onzoma, the Assistant Commissioner of Industrial Relations at the Ministry of Gender) pose for a photo.

 

About Smartlife Flexi

Smartlife Flexi is available to anyone aged 16 and above, including non-nationals with valid identification.

Any person can make voluntary contributions, and mandatory members can also make voluntary contributions as top-ups. 

The minimum voluntary contribution is UGX 5,000, and members select the frequency of their contributions based on their preferred purpose and duration. Returns are calculated on the daily balance and credited monthly. Contributions are subject to a minimum lock-in period of one year.

To sign up for Smartlife Flexi, follow this link and start your savings journey: https://www.nssfug.org/smartlifeflexi/