NSSF launches saving culture campaign

Mr Richard Byarugaba, the managing director NSSF. File photo

What you need to know:

The fund has so far paid Shs1.1 trillion to 250,000 members.

Kampala. The National Social Security Fund (NSSF) has launched a campaign meant to instil a saving sculture to its members.
This campaign, ‘Friends with Benefits’, will run as a TV show programme profiling retired workers who invested or used their NSSF benefits to transform their lives, and those of the communities around them.
Mr Richard Byarugaba, the managing director NSSF , in a statement, said the campaign aims at showcasing inspiration success stories from members who have received and used their benefits to change their lives, their families and the communities they live in.
“This is intended to motivate existing and potential members to invest in retirement savings,” he said.
Over the last 30 years, NSSF has paid a total of Shs1.1 trillion to 250,000 members who have claimed their benefits on retirement.

“This is a significant amount we have put into the economy of Uganda and is in line with the Funds’ commitment to deliver a better life to our members,” Mr Byarugaba said.
He added that the campaign is expected to bring out successful stories to life by giving hints into various ventures that one can undertake with their packages for a better life.
Talking about the campaign, the secretary general of the National Organisation of Trade Unions, Mr Wilson Owere, said: “It’s a good initiative if it’s going to create more profits to the beneficiaries and its success will reduce on the poverty levels.”

NSSF head of marketing and communications Barbara Arimi said: “The campaign is expected to ignite national conversations about the need for every Ugandan to save and invest for a better life hence cultivating a savings and investment culture among Ugandans.”

Participants are required to submit a short real and compelling story of about 100 words on how their lives have been transformed as a result of the benefits they received.
The Top 20 successful stories will be aired in a compelling TV show where winners will be selected through voting by the public.
The campaign will run for a period of 4 months and the winner will be rewarded with Shs30m in prize money.