The National Social Security Fund (NSSF) has launched Smartlife Flexi, a new savings plan aimed at making saving easier and more accessible for every Ugandan. Starting with as little as UGX 5,000, anyone—not just current NSSF members—can open an account, set personal goals, and save at their own pace.
This plan is designed to fit around your lifestyle. You decide how much to save, how often to save, and what you’re saving for, whether it’s education, healthcare, or just a rainy day. Plus, interest will be calculated daily, so your money is always working for you.
“This is an opportunity for Ugandans to save with an institution they can trust and will not miss a return because interest rate will be competitive computed on a daily basis as good as it gets,” said NSSF Managing Director Patrick Ayota at the launch event held at Kampala Serena Hotel. “It’s perfect for people planning for short- or mid-term goals. It’s also about building the habit of saving regularly.”
Bigger Vision for Uganda
Ayota explained that this product is part of NSSF’s push to expand its reach from 2.3 million to 15 million members by 2035, with the ultimate goal of growing the fund to UGX 50 trillion.
“We can’t hit that goal by ignoring sectors like agriculture or informal workers,” Ayota said. “Saving isn’t just about personal benefits—it’s about the country’s growth too. We will now have a domestic pool of saving we can tap into as a country to help develop in areas like infrastructure without borrowing a 100%. This plan has good returns for members and we think by doing this, we help Ugandans participate in the development of their own country.”
Designed with Flexibility in Mind
The Smartlife Flexi plan is open to everyone, whether they’re already saving with NSSF or not. It’s easy to customize: savers set their own targets and can access their funds if an emergency arises.
“You control the process,” Ayota added. “You decide when and how to save. If something unexpected comes up, there’s a way to withdraw your money to handle it.”
Support from Business Leaders
The plan has already struck a chord with Uganda’s business community.
Dr. Thaddeus Musoke Nagenda, chairperson of the Kampala City Traders Association (KACITA), welcomed the move, saying it offers traders a smarter way to grow.
“We have a bad habit of not saving for lets say expand business but rather going out to acquire loans which are expensive,” he said. “This plan will help us start saving to expand businesses, other than acquiring expensive loans.”
John Walugembe, Executive Director of the Federation of Small and Medium Enterprises (FSME), also praised the plan, calling it a step in the right direction for small businesses.
“We’ve got a saving problem in this country, and it’s holding us back,” Walugembe said. “I am happy to note that this new product supports SMEs to save voluntarily but also be able to access their money.”
The Smartlife Flexi plan isn’t just about growing individual savings. It’s about creating a culture of saving that benefits everyone—from small traders to the nation as a whole.
