NSSF FIVE YEAR PERFORMANCE REVIEW
| Five-year performance review | Actual 2016/17 UGX Billion | Actual 2017/18 UGX Billion | Actual 2018/19 UGX Billion | Actual 2019/20 UGX Billion | Actual 2020/21 UGX Billion | Budget 2020/21 UGX Billion | Actual 2020/21 Vs Actual 2019/20 Var % | Actual '2020/21 Vs Budget 2020/21 Var % | CAGR (2016/17-2020/21) |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Total Income | 912 | 1,602 | 891 | 1,471 | 1,847 | 1,675 | 26% | 10% | 19% |
| Total Revenue (Core) | 845 | 1,042 | 1,255 | 1,472 | 1,696 | 1,659 | 15% | 2% | 19% |
| Total cost* | 96 | 116 | 145 | 158 | 164 | 184 | 4% | 11% | 14% |
| Profit before Interest & Tax** | 823 | 1,486 | 746 | 1,312 | 1,683 | 1,491 | 28% | 13% | 20% |
| Profit After Tax + Interest to Members | 686 | 896 | 573 | 1,160 | 1,516 | 1,299 | 31% | 17% | 22% |
| Financial Position (UGX' Bn) | |||||||||
| Total Assets | 7,924 | 9,983 | 11,339 | 13,284 | 15,559 | 15,008 | 17.1% | 3.7% | 18% |
| Fixed Income Investments | 5.999 | 7.478 | 8.693 | 10,235 | 11,773 | 11,373 | 15% | 4% | 18% |
| Equity Investments | 1,255 | 1,7478 | 8,693 | 10,235 | 11,773 | 11,373 | 15% | 4% | 18% |
| Real Estate | 512 | 642 | 802 | 943 | 1,142 | 1,312 | 21% | -13% | 22% |
| Total Investments | 7,766 | 9,858 | 11,170 | 13,090 | 15,293 | 14,802 | 17% | 3.3% | 18% |
| Accumulated Members' Funds | 7,623 | 9,408 | 11,138 | 13,062 | 15,299 | 14,785 | 17.1% | 3% | 19% |
| Financial Performance (%) | |||||||||
| Realized Return on average Investment (%) | 11.9% | 11.8% | 11.9% | 12.1% | 12.0% | 11.2% | 2% | 7% | N/A |
| Cost Income Ratio (%) | 13.4% | 12.9% | 11.6% | 10.8% | 8.9% | 10.98% | 17% | 19% | NA |
| Cost of Administration (%)) | 1.35% | 1.31% | 1.28% | 1.19% | 1.06% | 1.23% | 11% | 14% | N/A |
| Member's Fund Statistics (UGX'M) | |||||||||
| Contributions Collected | 917 | 1,049 | 1,208 | 1,272 | 1,367 | 1,356 | 8% | 1% | 11% |
| Benefits Paid | 278 | 360 | 450 | 496 | 642 | 800 | 29.4% | -20% | 23% |
| Interest Credited to members*** | 681 | 1,100 | 978 | 1,154 | 1,516 | 1,294 | 31% | 17% | 22% |
| Return on member's Fund (%) | 11.23% | 15.00% | 11.00% | 10.75% | 12.15% | 10.55% | (7%) | (15%) | N/A |
| Compliance level (%) | 80% | 81% | 68% | 55% | 51% | 60% | (7%) | (15%) | N/A |
| Benefits Processing time (Days) | 11 | 8 | 7 | 7 | 8 | 7 | N/A | N/A | N/A |
| Customer Satisfaction Rate (%) | |||||||||
| Internal Customers (Staff) | 84% | 84% | 88% | 93% | 94% | 90% | 1% | 4% | N/A |
| External Customers (Members) | 92% | 85% | 84% | 88% | 86% | 85% | (2%) | 1% | N/A |
Operating Expenditure*
Operating expenses represent costs incurred to support income generation for the Fund. Major categories include staff costs, equipment costs, costs associated with Fund Premises and other costs. These have grown at a CAGR of 14% over the past 5 years in line with the Fund growth, however, this growth rate is lower than the revenue growth (CAGR 19%) due to deliberate costs control measures by management and efficiencies realized from continuous process improvements and innovation.
Profit Before Interest and Tax**
Profit before interest and tax has grown by a CAGR of 20% in the past 5 years on account of the higher growth rate in revenue compared to operating expenses.
Interest Credited to members***
Interest credited to members has grown by a CAGR of 18% in the past five years due to continued exceptional performance posted by the Fund. The rates declared have consistently surpassed the 10-year average inflation threshold.