Thread by @Jadwong

REVIEW: Many things were said in the heat of the moment, at the 7th #Uganda National Social Security Fund #NSSF Annual Members Meeting on Friday #NSSFAMM19

⏭️ Time to reflect, and let the figures tell what could have been 'lost in translation' ... #NSSFfigures19

THE PROMISE ✅
✳️ In FY 2012/13, #NSSF 🇺🇬 committed to pay members 'a real return' – at least 2 percentage points above the 10 year rate of inflation.
✳️ Year - Interest
2012 ✅10.00%
2013 ✅11.23%
2014 ✅11.50%
2015 ✅13.00%
2016 ✅12.30%
2017 ✅11.23%
2018 ✅ 15%
2019 ✅ 11%

✅ The amount of money paid in Benefits to qualifying #NSSF 🇺🇬
members increased by 25% from UGX 360 Billion in 2017/2018 to UGX 450 Billion in 2018/19. #NSSFfigures19
bit.ly/2m4uXbo

✅ Assets Under Management (AUM) increased by 13.1% from UGX 9.98 Trillion to UGX 11.3 Trillion as at 30th June 2019 driven by increased contributions from members and interest income from fixed income investments.
#NSSF 🇺🇬 #NSSFfigures19 #NSSFAMM19

✅ Realised Income increased by 20.4% from UGX 1.04 Trillion in 2017/2018 to UGX 1.25 Trillion in 2018/2019 due to increased gross interest income from Treasury and Infrastructure bonds.
#NSSF 🇺🇬 #NSSFfigures19 #NSSFAMM19

✅ Contributions from members increased by 17% from UGX 1.049 Trillion to UGX 1.208 Trillion, driven by a new membership recruitment drive, voluntary contributors & improvement in compliance level, now standing at 61% based on 1 month. #NSSF🇺🇬 #NSSFfigures19 #NSSFAMM19

✅ The @nssfug Cost of Administration as a percentage of AUM improved from 1.31% in 2017/2018 to 1.28% in 2018/2019 while the Cost Income Ratio remained flat at 11.6%
#NSSF🇺🇬 #NSSFfigures19 #NSSFAMM19

@nssfug The only drop in the 2018-19 figures
👇
⏬⏬ Total Revenue reduced by 44% to UGX 891 Billion in 2019 from UGX 1.6 Trillion in 2018. Majorly driven by the drop in market values of investee company shares (189B) & appreciation of UGX against USD etc (247.4 B)
#NSSF🇺🇬 #NSSFAMM19

@nssfug BYARUGABA: We are confident in the state of the health of the Fund. In the short, medium and long term, the Fund remains financially stable and growing given the financial muscle developed so far. The Fund can withstand any shock in the economy.
#NSSF🇺🇬 #NSSFAMM19

@nssfug BYARUGABA: The National Social Security Fund (Amendment) Bill,2019) will hand the responsibility to the board and minister to come up with other appropriate benefits for members. #NSSF🇺🇬 #NSSFAMM19
➡️ FULL COPY OF THE BILL
👇
scribd.com/document/42182…

@nssfug 1⃣ Are you a member of the #Uganda National Social Security Fund #NSSF 🇺🇬?
2⃣ Did you miss the Annual Members Meeting on Friday #NSSFAMM19 ?
3⃣ If yes, you can still have your say on what was said.
👇
scribd.com/document/42797…

dear @threadreaderapp unroll

@nssfug 📎 NSSF annual members meeting 2019
📎 The facts, and only the facts #NSSFAMM19
threadreaderapp.com/thread/1178322… via @threadreaderapp