NSSF seeks repeal of contributions cap
The NSSF has called for the repeal a section of the bill that caps members’ contribution at Sh200. Managing Trustee Tom Odongo said this will enable members save according to their capacity, adding that those who can save more should be encouraged. He said the fund is working with National Registration Bureau to have identity cards, passports, personal identification number and other documents harmonised into one identification document. “This will not only help in fighting crime but also to assist members remember their personal numbers. It is cumbersome to remember all those numbers, but the synchronisation will make it easier for them,” said Odongo.
He said fund is negotiating with several local authorities to buy land to construct low cost houses for its members at the counties. However, he added that the initiative will only be undertaken in areas where the National Housing Corporation is not currently having housing projects. Odongo said the initiative is in line with transformation bill which not only envisages changing of its name but also to shift from the provident fund to a pension fund. “The pension fund will enable you to earn small payments for the rest of your life time unlike the provident fund where you receive a lump sum,” he said. He said is optimistic that the bill will be tabled before Parliament before the end of the year.
A manager at Wango Embori farm in Timau John Muiyuro proposed that the fund should extend small loans to members. Odongo was speaking to various employers who contribute NSSF money on behalf of their employees at a Nanyuki hotel. Several companies including Finlays Horticulture, Timaflo and others were awarded certificates for their outstanding work.