NSSF Survey Exposes Retirement as a Myth for 45% of Ugandans

Jim Sykes Ocaya

The National Social Security Fund (NSSF) has blown the lid off the teapot, revealing that a staggering 45 percent of Ugandan pensioners just can’t seem to shake off the work bug even after bidding farewell to the daily grind – in other words Uganda is a country where the retirement dream often meets the reality of an empty wallet.

According to the recent NSSF National Beneficiaries Survey Report, released with more fanfare than a village wedding, it seems like retirement is not the golden ticket to endless leisure that many hoped for. Mr. Stephen Omojong, the NSSF’s very own expert of retirement realities, revealed that 60 percent of beneficiaries are left clutching less than the price of a fancy cow – a meager Shs10m.




“The retirement nest egg provided by NSSF is about as helpful as an umbrella in a drought,” quipped Omojong, with a wink and a nudge. “It’s like expecting a mango tree to sprout Rolex watches.”




But not to alarm every working person out there, Omojong had some sage advice: “You’ve got to stretch that shilling like a seasoned yoga guru. Retirement isn’t a walk in the park; it’s more like a hike up Mount Rwenzori with a herd of stubborn goats.”




The report, conducted in cahoots with Enterprise Uganda, aimed to dissect the retirement riddle and ended up uncovering more surprises than a visit to your long lost cousin in the village. Turns out, Ugandans over 45 years old are still shackled to the workbench, their dreams of sipping on fresh milk from their own cows dashed by the harsh reality of bills and responsibilities.

“It’s like trying to outrun a hippo in a canoe,” lamented Omojong. “With mouths to feed and school fees to pay, retirement becomes just a fancy word for ‘working until you drop’.”

And it’s not just the elderly good people feeling the pinch. Even those ripe ol’ bananas aged 50 and above are still punching the clock, their dreams of sunset strolls replaced by overtime and sore joints. But perhaps the most eyebrow raising revelation was the tendency of retirees to take financial advice from anyone with a pulse.




“It’s like asking a chicken for directions to Kampala,” chuckled Omojong. “But what can you do when your neighbors and distant relatives suddenly become financial wizards?”

In a country where retirement planning involves more guesswork than a witch doctor’s prophecy, it’s no wonder that folks are turning to the village grapevine for investment tips. From the hills of Eastern Uganda to the plains of the West, everyone’s got an opinion on where to stash your retirement peanuts.

The next time you see Uncle Kato still toiling away in his garden long after retirement age, spare a thought for the humble pensioner trying to navigate life’s maze with nothing but an NSSF cheque and a prayer – we’re all just clowns trying to find a seat under the retirement tent.




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Jim Sykes Ocaya is the Business Editor at The Ankole Times, where he spearheads comprehensive coverage of the business landscape in Uganda. With a keen eye for market trends, financial analyses, and corporate developments, Jim ensures that The Ankole Times delivers top-notch business news to its readers. His insightful reporting provides valuable insights into the economic pulse of the region, making him a trusted source for the business community.
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