The National Social Security Fund Kenya

The National Social Security Fund is a Kenyan government agency responsible for the collection, safekeeping, responsible investment and distribution of retirement funds of employees in both the formal and informal sectors of the Kenyan Economy. Participation for both employers and employees is compulsory. The fund is both a pension fund and provident fund

History of National Social Security Fund

The National Social Security Fund was established in 1965 through the Act of Parliament Cap 258 of the Laws of Kenya. It initially operated as a Department of the Ministry of Labour until 1987 when the act was amended, transforming the fund into a state corporation under the management of a board of trustees. Under the National Social Security Act of 2013, both employed and the self-employed and their dependents qualify as contributing members. The act (law) on pension requires all Kenyans that are above 18 years of age to register to the program.

The board of trustees is composed of workers’ representatives through the Central Organization of Trade Unions, employers through the Federation of Kenya Employers and the Government of Kenya through the Ministries of Labour and Finance. This composition ensures that the board accommodates the views and aspirations of the three social partners in policy formulation and running of the organization.

Investment portfolio

The current National Social Security Fund investment portfolio includes fixed income, real estate, and equities.

Fixed income

This includes short term and long term bonds. As of 31 December 2010, the investment in long term bonds was KSH 24.64 Billion.^[4]

Real Estate

• Land – as of 31 December 2010, the undeveloped land owned by the fund was valued at KSH 7.86 Billion.
• Buildings – as of 31 December 2010, the buildings owned by the fund were valued at KSH 31 Billion.
  • Commercial buildings – these include the NSSF Building, View Park Towers, and Hazina Trade Centre which is set to be the tallest building in the region.
  • Residential buildings – These include Nyayo Estate Embakasi, Milimani Flats, Mountain View Estate, Hazina Estate and Nyayo Highrise Estate near Kibera.

Equities

• Private equities – the main private equity held by the fund is 11.2% of the issues share capital of the Consolidated Bank of Kenya. Others include the Nairobi City Council Stock.
• Listed equities – the fund is a leading investor on the Nairobi Securities Exchange, including in the following companies:

Number	Investment	Industry
1	Kenya Power and Lighting Company	Electricity Distribution
2	East African Breweries	Brewing
3	British American Tobacco Kenya	Tobacco & Cigarettes
4	Kenya Electricity Generating Company	Electricity Generation
5	Bamburi Cement	Construction Products
6	East Africa Portland Cement	Construction Products
7	Kenya Commercial Bank Group	Financial and Banking
8	Housing Finance Company of Kenya	Financial, Banking and Mortgages
9	Sameer Africa	Tyre Manufacturing
10	National Bank of Kenya	Financial and Banking
11	Barclays Bank (Kenya)	Financial and Banking
12	Standard Chartered Kenya	Financial and Banking
13	Nation Media Group	Media
14	Athi River Mining	Construction Products
15	Kenya Re-Insurance	Reinsurance
16	Safaricom	telecommunications
17	Equity Group Holdings Limited[9]	Financial and Banking

Ownership

The fund is owned by the Government of Kenya on behalf of the workers and employers in Kenya.

Governance

Governance is overseen by a nine-member board of trustees with Dr. Anthony Omerikwa as the acting managing trustee. In formulating the fund’s policies the board of trustees acts strictly in accordance with the NSSF Act.

Branch network

There are fund offices in major towns all over Kenya.

FAQS – National Social Security Fund Kenya

How do I register with NSSF?

You can register with NSSF at your nearest NSSF office. Click Here for more information on member registration. If you are an employer interested in registering yourself/your company with NSSF, please Click Here for more information on employer registration.

How much do I have to contribute?

The amount of monthly membership contributions will vary depending on your wage or salary. However, on average, every employee pays about 5% of the monthly wage which is matched with an equal amount by the employer subject to a specified maximum. You can also topup your account by visiting your nearest NSSF branch with your membership number or through MPESA. Click here for details on how to make contributions through mpesa

My employer is not registered with NSSF? What do I do?

All employers must register with NSSF. Any employer who fails to register with the fund or fails to register their workers within 21 days of employment is guilty of an offence and liable to prosecution in a Court of Law. Please contact your nearest NSSF office immediately, if your employer is not registered with NSSF. Our Compliance Officers will take the necessary steps to ensure that your employer registers with NSSF.

I am an employer – How do I register myself/my company with NSSF?

Please click here to view registration information for employers

How do I apply for benefits?

You can apply for benefits at the NSSF office closest to you. At present NSSF does not process benefit applications online. Click Here for more information on how to apply.

What is your toll free number?

Our toll free line is 0800 2212744

How do I find the application forms for applying for benefits?

Application forms for Survivor’s benefit and Invalidity benefit are available online and at your nearest NSSF office. Information required for applying for other benefits/grants (i.e., Age/Retirement Benefit, Withdrawal Benefit, Funeral Grant and Emigration grant) will be obtained from you at your nearest NSSF office. Please be sure to review our benefits page to obtain information on the documentation/information that will be required from you when you apply for any given benefit/grant.

What happens if I change my place of employment?

You can only register once as a member of the Fund during your lifetime. Your membership number is your account number which you must quote in all correspondence or inquiries regarding your statement of account. Your account number will remain the same even when you change employers. All you need to do is furnish your new employer with that number.

What happens if I change my contact details?

Please notify the NSSF as soon as you change your contact details. That way, we can update your records and keep your payment information current.

Can I remain an NSSF member even if I lose my job?

YES. You remain a member of the fund even when you lose your job. Even if you are no longer making contributions, your earlier savings continue to earn interest. You can continue to make contributions by visiting your nearest NSSF branch with your membership number or through MPESA. Click here for details on how to make contributions through mpesa

How do I know how much I have contributed so far?

NSSF will issue you with a FREE statement of account on demand. A statement of account is a document issued to NSSF members that shows the sum of a given member’s contributions as well as the interest that their contributions has earned so far.

How do I contact NSSF?

Most enquiries can be handled in any of our branch offices. You can visit your nearest NSSF office in-person or contact us via phone, fax, or e-mail. Please click here for a full listing of the contact information for NSSF branch offices across Kenya

What does the Fund do with my money from the time I register to my retirement age?

NSSF prudently invests its members’ savings in secure, high-yielding investments such as government securities, real estate and shared equities. Please Click Here for a more comprehensive review of NSSF’s investments and investment policy.

How can I find out about job opportunities at NSSF?

NSSF job opportunities are usually posted online and in local newspapers. Click here to see if there are any job positions available.

I have lost my NSSF membership card. How do I obtain a replacement?

You can apply for a Duplicate Membership Card (DMC) at your nearest NSSF office. The replacement will cost you Ksh 200

I believe that I am aware of an act (acts) of corruption and/or fraud that has taken place within the programs and or operations of NSSF. How do I report this?

NSSF is committed to being a transparent, accountable and reliable organisation. The NSSF Anti-corruption Authority provides an avenue for the public to report acts of corruption and/or fraud within its programs and operations. There are drop-off-boxes for the Anti-Corruption Authority in all NSSF branches countrywide. You can also send us a mail anonymously by clicking here