This Report provides an update on the performance of the Pension Sector for FY 2023/24. According to the Report, Pension Sector assets grew by 18% from Ushs 21.41 trillion in FY 2022/23 to Ushs 25.4 trillion in 2023/24, accounting for 12% of GDP. Member contributions increased by 8% from Ushs 2.20 trillion in FY 2022/23 to Ushs 2.38 trillion in FY 2023/24. In addition, the number of members subscribing to at least one pension scheme increased by 7% from 3,142,311 members in FY 2022/23 to 3,367,545 in FY 2023/24 due to improved confidence in the Sector. In addition, the Report highlights that the URBRA Authority Board contributed to the development of a pro-growth social security strategy to aid the achievement of the Ten-Fold Growth Strategy objective of increasing savings from 20% to 40% of GDP by 2040.

https://urbra.go.ug/download/retirement-benefits-sector-annual-report-2024/