The National Social Security Fund (NSSF) has moved to clarify the status of its contributions, reaffirming compliance requirements and highlighting strong financial performance and member returns.
In a public statement, the Fund said it continues to operate under Article 43(1) and Article 21(2) of the Constitution of Kenya, which guarantee every person the right to social security and oblige the State to take measures to progressively realise that right.
NSSF noted that its mandate under the NSSF Act, 2013, is to provide basic social security to workers in both the formal and informal sectors, while promoting retirement savings and long-term financial security.
The Fund disclosed that it currently holds approximately Ksh 715 billion in assets (unaudited), describing this as a reflection of trust from employers and workers, as well as improved compliance and savings culture across the country.
According to the statement, NSSF achieved strong investment performance, declaring a net return of 11 per cent for the 2023/2024 financial year.
The Fund further projected improved returns of 17 per cent in the subsequent financial period, attributing the growth to prudent investment strategies and stakeholder confidence.
However, the Fund raised concern over increasing non-compliance and outstanding remittances by some employers, warning that failure to remit contributions denies workers their rightful benefits and exposes them to financial insecurity upon retirement.
NSSF Managing Trustee and CEO David Koros urged all employers and workers to comply with statutory obligations, emphasizing that adherence to contribution requirements is key to safeguarding retirement benefits and ensuring the sustainability of the pension scheme.
