The National Social Security Fund (NSSF) plans to more than double the value of its assets to TZS24.75 trillion by June 2031, while seeking to bring millions of self-employed and informal-sector workers into the social security system.
The target, up from TZS11.47 trillion recorded at the end of the previous seven-year development plan, is part of a new five-year strategy that puts membership expansion, investment growth and digital services at the centre of NSSF’s operations.
NSSF Director General Masha Mshomba said the fund wants to increase membership to 5.8 million over the next five years, including about 3.7 million self-employed workers.
The expansion would take the fund deeper into a section of the workforce that traditionally faces difficulties maintaining regular pension contributions because incomes can vary from one month or season to another.
“We expect to reach everyone who is able to contribute,” Mr Mshomba said in Dodoma on Monday, September 21, 2026, during a meeting between public institutions and editors organised by the Office of the Treasury Registrar.
The fund expects to collect TZS21.11 trillion in contributions during the five-year period and generate another TZS5.2 trillion from investments.
The targets come as NSSF seeks to build on strong growth recorded under its previous development plan.
Membership increased from 1.39 million at the beginning of the previous plan to more than 2.1 million by June 2026, while annual collections rose from more than TZS1.17 trillion in the first year to TZS2.90 trillion in the 2025/26 financial year.
NSSF’s investments also more than doubled, rising from about TZS4.6 trillion in June 2021 to more than TZS9.6 trillion by June 2026.
The growth has also increased the amount paid to members and their dependants.
Benefit payments rose from about TZS594 billion in the initial period of the previous plan to more than TZS1.16 trillion in 2025/26, reflecting a growing number of members qualifying for pensions and other benefits.
A major test for NSSF will be whether it can turn the large informal economy into a sustainable source of long-term pension contributions.
Mr Mshomba said the fund had changed its approach to self-employed workers because their incomes do not always follow the fixed monthly pattern of formally employed workers.
Under the revised arrangement, members can contribute daily, weekly, monthly or for several months in advance, with the minimum contribution set at TZS30,000.The scheme had 577,791 members by June 2026, according to Mr Mshomba.
NSSF is targeting substantial growth in that number as it seeks to reach traders, small business owners and other self-employed workers.
The strategy could widen pension coverage, but its success will depend on whether workers with irregular incomes can maintain contributions over the long term.
Mr Mshomba said members should contribute as much as they can because the level of contributions also affects the benefits they eventually receive.
NSSF is also under pressure to ensure that growth in the fund translates into better and faster services for members.
Mr Mshomba said 99 percent of paid claims had been processed within the statutory 60-day period by June 2026.
The fund now wants to use technology to reduce the waiting period further, particularly for members retiring from employment.
Digital services are being expanded to allow members and employers to access services without travelling to NSSF offices.
The fund has also changed arrangements for some members who leave employment before retirement age.
Mr Mshomba said qualifying members who previously faced waiting periods of up to two years can now receive their benefits within 90 days.
At the same time, members who reach 60 without completing the 180 months of contributions required for a monthly pension can voluntarily continue contributing until the age of 70.
The move is intended to give members an opportunity to qualify for a regular pension rather than relying solely on a lump-sum payment.
NSSF has also increased the minimum monthly pension from TZS100,000 to TZS150,000.
Despite the growth, NSSF still faces challenges in ensuring that employers submit accurate contributions for their workers.
Mr Mshomba said some employers fail to provide employment contracts, while others submit contributions that do not correspond with the number of employees or their actual salaries.
NSSF is using inspections, education and cooperation with government institutions to address the problem.
He also urged employees to monitor their contributions and report discrepancies where the amounts submitted by employers do not match their entitlements.
The issue is important because pension benefits ultimately depend on the accuracy and consistency of contributions made during a worker’s employment.
Under the new plan, NSSF intends to align its investments with Tanzania’s Development Vision 2050, including areas linked to economic growth, human development and environmental sustainability.
Mr Mshomba said the fund would focus on investments that provide returns to members while contributing to economic activity and job creation.
NSSF expects its investments and other activities to generate more than 13,729 jobs during the five-year plan.
The fund has also started incorporating environmental, social and governance principles into its investment and operational decisions, including the development of environmentally friendly buildings.
The strategy leaves NSSF with a substantial challenge: it must grow the fund rapidly enough to reach TZS24.75 trillion while expanding pension coverage to millions of workers whose incomes are often irregular.
For members, the ultimate measure of the strategy will be whether that growth translates into reliable pensions, faster benefit payments and wider access to social security.