Registering with NSSF (National social security fund) in Uganda means saving for the future. As a registered member whether Voluntarily or as its required by law, you will enjoy the benefits of your savings depending on the prevailing circumstances. Savings keep on multiplying and accumulating year by year and many who are already registered boost of earning the highest interest which can never be found any where else.
In Uganda, there are those who save for reason being, falling under the mandatory provisions to save eg those working for companies and etc, those who have an approved pensions schemes like those working in Government, UN and etc, and those who can save voluntarily under the voluntary membership scheme.
In this article, I am sharing with you how to register with NSSF as a voluntary member in Uganda so yo u too can enjoy the huge benefits associated with this saving scheme. All you need to do is to follow the simple procedures below so you can get started and save for the future.
What exactly is NSSF Voluntary membership?
The NSSF Voluntary Membership Plan in Uganda is a new initiative which provides employers and workers that are not compelled by the mandatory provisions of the NSSF Act the opportunity to voluntarily save for their retirement.
Who qualifies to enroll for the Voluntary Membership Plan?
Voluntary Employers – employers with less than 5 employees, and their employees. This is occasioned by the NSSF (Voluntary Registration and Contributions) Regulations, and in specific reference to Section 10 (1) of the NSSF Act. This provides that any employer may, “apply for voluntary registration as a contributing employer; and any eligible employee of such employer may thereafter apply for voluntary registration as a member of the Fund”.
What are the benefits associated?
1. Age benefit which is payable as a lump sum upon the age of 50 years.
2. Invalidity benefits which is paid if one is unable to work due to terminal illness.
3. Emigration grant which is payable if one is existing the country permanently.
4. Survivor’s benefit which is payable to beneficiaries of a deceased member.
5. Exempted employment benefit which is payable to a member joining employment with an approved pension scheme eg Government, UN, etc.
What are feature of Voluntary membership?
1. You make your own choice when it comes to how much you want to contribute depending on your income.
2. Offers you flexibility for example you are at liberty to change the amount you want to contribute.
3. Offers you satisfaction and peace of mind.
How to register as a NSSF Voluntary member in Uganda?
1. Download the registration forms here https://www.nssfug.org/uploads/Registration%20forms.pdf
2. Print and fill in the forms and send them to [email protected] or take them to the nearest branch.
3. You can also send an email to [email protected] or even call Toll free number 0800286773 and inquire for more details.