What Is NSSF Balance?
National Social Security Fund
The National Social Security Fund (NSSF) is a quasi-government agency responsible for the collection, safekeeping, responsible investment, and distribution of retirement funds from employees of the private sector in Uganda who are not covered by the Government Retirement Scheme.
How To Check NSSF Balance In Uganda
- Send the word “NSSF” to 6773 and follow instructions.
- Type NSSF, NSSF No, Date of Birth, Full Names and send to 6773.
- You will receive a PIN (after they validate their data)
- Type Bal, your new PIN” and send to 6773.
- View your statement balance.
Can I Withdraw My NSSF Money Before Retirement?
However a person will only be required to pay tax on his / her pension if the money is withdrawn from the fund before the member is 60 years of age.
How Can I Get Money From NSSF?
Dial *165*6*4# to get started, select NSSF, Midterm Benefits, accept terms and conditions, enter NSSF number, enter NIN, select payment month and date and confirm with your mobile money PIN. You will receive a confirmation SMS.
How Can I Check My NSSF Balance Online In Uganda?
NSSF Uganda
- Send the word “NSSF” to 6773 and follow instructions.
- Type NSSF< leave space> NSSF No < leave space> Date of Birth Full Names and send to 6773.
- You will receive a PIN (after we have validated our data)
How Does NSSF Pay Its Members?
It made the benefits available as a lump sum to members upon retirement. Under the old NSSF Act, the employee and the employer contributed 5% of gross pay each or a sum of Ugx 200 each, every month, or whichever was less.
How Long Does It Take To Get NSSF Benefits In Uganda?
The duration it takes for one to receive their benefits is 10 working days.
How Much Does NSSF Deduct From Salary In Uganda?
An individual in employment is obligated to make a contribution of 5% of one’s gross earnings to the national social security fund. An individual who is an employer is also obligated to make contributions to the national social security fund for each employee, amounting to 10% of their gross pay.
How Is NSSF Calculated In Uganda?
NSSF is deducted monthly and the employee contributed 5% of their gross salary while the employer contributes 10% of the employee’s gross salary.
How Can I Check My NSSF Status Online?
Launch the NSSF Self- Service Portal on your browser. On the portal, click the “ Member self-service links” option. Select the “NSSF contributions statement” tab.
Who Qualifies To Get NSSF Benefits?
Mandatory: The Fund covers all employers who have 5 or more employees between 16 and 55 years of age, with the exception of employees under the Government Pensions scheme. It is the obligation of the employer to remit contributions to the Fund for his/her employees every month.
What Is The NSSF Percentage?
NSSF. Monthly employee contribution is 5% of gross pay, while employer contribution is 10% of gross pay.
How Much Is NSSF Monthly?
Employees contributions range from 360 shillings to a maximum of 1080 shillings per month for the first year. Employers will also be contributing an equal amount as yours towards your future. Voluntary contributor: Your minimum monthly contributions are now 200 shillings 100 shillings.
How Do I Claim NSSF Benefits In Uganda?
To access the platform, one needs to download the NSSFGO Mobile and Web Application, scroll to ‘Benefits Application” and enter required information and documents. Upon submission, a beneficiary is able to track the benefits claim until the payment is made.
Do Government Workers Pay NSSF?
NSSF is a provident Fund that covers all employees in the private sector that are not covered by the government’s pension scheme.
Can NSSF Give Loans?
NSSF doesn’t give out Loans directly to members. However NSSF has invested in equities in different banks where members can access loans. Note: A member’s savings with NSSF cannot be used as collateral when applying for a loan.
Who Pays NSSF In Uganda?
The NSSF is a defined contribution scheme and is financed largely by contributions from employers and employees. The total contribution is equal to 15 percent of an employee’s gross salary, with the employer contributing 10 percent and the employee 5 percent.