The National Social Security Fund is to pay out 9.65 per cent to each of its savers, totalling 1.38 trillion shillings, for the year ended June 2022.
This is the lowest interest rate in several years, due mainly to the implementation of the Mid-Term Access to Funds project that was introduced earlier this year.
The Fund paid 10.75 percent and 12.15 percent for the financial years 2019/20 and 2020/21 respectively.
According to the Managing Director, Richard Byarugaba, a total of 1.9 trillion was paid out in midterm access benefits to members.
Details coming up