NSSF signifies National Social Security Fund is a national saving program mandated by the Ugandan government for the provision of social security facilities to workers in Uganda. It was created in 1985 with an aim of protecting employees from the unpredictability of economic and social life. Further down are benefits of NSSF in Uganda.
1. Survivor benefits
Survivor benefits are paid to immediate surviving families, which include the children and spouse of a deceased member. If an NSSF member does not have any children or spouse, benefits are paid to the parents if they depended exclusively on the departed member. This is another vital benefit since it enables the remaining family members to continue living under good conditions.
2. Age benefits
This particular benefit is provided to NSSF members who have attained 55 years, which is the recommended retirement age. 50 year old Ugandan citizens can also claim age benefits provided they have not been employed for about one year. The main aim of this benefit is to provide the elderly an essential income security through the disbursement of their accumulated savings during the time they were still employed.
3. Emigration grants
These benefits are disbursed to contributing NSSF members who are looking to leave Uganda permanently. It is actually paid to both Ugandan members as well as foreign members. The foreign workers who apply for emigration grants are usually required to cancel their work permits through the immigration department.
4. Invalidity benefits
This benefit offered by NSSF is disbursed to current members who no longer have the capability of seeking gainful employment due to mental or physical incapacitation. In order to qualify for this benefit, you will require certification from a physician.
The NSSF has several demerits as well. The major disadvantage of NSSF in Uganda is that the process of retrieving the benefits is very long and time consuming.