Protecting the members’ money remains one of the most important strengths for the existence of the Authority. Retirement benefits have over time proved to give nations a particular kind of economic resilience and Uganda is not an exception. The FY 2024/25 Uganda’s retirement benefits sector registered remarkable growth, demonstrating increased public confidence in long-term savings and the effectiveness of sector reforms.
According to the Annual Retirement Benefits Sector Performance Report, sector assets grew from UGX 25.4 trillion to UGX 30.7 trillion, representing a 21% increase within one year. The number of retirement savers also rose significantly to over 4 million Ugandans. Average interest credited to members increased from 10.97% to 14.6%, providing stronger returns and preserving the value of members’ savings against inflation.
The growth reflects the combined efforts of regulators, employers, trustees, administrators, and fund managers to safeguard retirement savings and ensure sustainable returns. It also demonstrates that more Ugandans are beginning to appreciate the importance of planning for life after employment.
However, challenges remain. With Uganda’s life expectancy now standing at approximately 68 years in recent studies by CPAR Uganda(Canadian Physicians for Aid and Relief), retirees are expected to live for nearly 17 years after retirement. This reality underscores the need for higher contribution levels, diversified retirement products, and improved financial planning.
As the sector enters FY 2026/27, the regulator plans to shift from merely increasing membership to ensuring adequacy of savings so that every retiree can maintain dignity and financial independence throughout retirement.
This makes trust as the major currency upon which every retirement benefits system must be built. Members contribute today because they trust that their savings will be available tomorrow. The trust is partly anchored on the strong governance frameworks, risk management systems, and supervisory mechanisms contributed by all sector players without under rating a contribution of none. This commitment by the service providers under the regulatory framework continue to give a heads-up strong sector performance and increased member confidence.
Additionally, the annual sector performance report FY 24/25 showed the increase in average member balances to more than UGX 10 million and the growth in membership, this is also an indication that there is a rising public trust in retirement schemes.
As retirement assets continue to grow, governance will become even more important. Trustees and service providers must remain vigilant against emerging risks including cyber threats, operational inefficiencies, and investment concentration risks to ensure that retirement funds continue to play a meaningful role in Uganda’s economic transformation.
The Regulator has enhanced disclosure requirements, trustee training programmes, and stronger compliance monitoring through revamping the Risk Based Supervisory System (URBRA- Bridge) to further improve governance standards and compliance across the industry.