GOOD PERFORMANCE: NSSF boss Richard Byarugaba

The National Social Security Fund (NSSF) financial literacy campaign dubbed ‘Friends with Benefits’ that was launched recently has started receiving positive responses from the public and is expected to attract hundreds of participants, Fund officials have said.

NSSF Workers House in Kampala

 

The campaign, now in its second edition and aimed at promoting savings and investments in the country, runs as a TV show that profiles former NSSF members who received and invested or used their retirement benefits to do something inspirational and life changing.

“Our objective is to inspire both our existing and potential members, especially the younger generation to save for their retirement. As was the case in the first season, we shall showcase stories of willing NSSF beneficiaries to demonstrate various projects one can undertake to improve their lives using their NSSF benefits,” said Barbara Arimi, NSSF’s Head of Marketing and Communications, during the launch.

The inaugural campaign held last year had the Fund register a significant increment in its Voluntary Saving Plan, with over 400 people joining and shs670 million collected between September and December 2016 when the TV show aired.

“At the end of the first campaign, 95% of interviewed Ugandans showed more willingness to save for their retirement.

Beneficiaries are required to submit a short and compelling story, stating how they utilized their NSSF savings and transformed their lives.

In addition, relatives and friends can also share stories of beneficiaries they know whose lives have been transformed because they put their benefits to excellent use.

The top 16 successful stories will be aired in a compelling TV show where winners will be selected through voting by the public and an expert panel of judges. Three winners will then be rewarded with a total of Shs55 million to further improve their lives.

Over 500 submissions were received in the first season and Harriet Balyama emerged winner of the campaign, walking away with shs30m which she used to complete construction of rental units.

The Friends with Benefits second season will run for a period of six months.