Contributions to the National Social Security Fund (NSSF) have risen sharply in recent years, reflecting changes in contribution rates, compliance levels, and broader reforms aimed at strengthening Kenya’s social security system.
Data from the NSSF shows that total member contributions more than doubled to Sh62.29 billion in the 2023/24 financial year.
The upward trend has been steady over time. In the 2019/20 financial year, contributions stood at Sh14.73 billion, slightly declining to Sh14.47 billion in 2020/21.
This was followed by a gradual increase to Sh15.92 billion in 2021/22. A more pronounced jump occurred in 2022/23, when contributions rose to Sh26.87 billion, before surging dramatically in 2023/24.
The sharp increase is largely attributed to the implementation of the NSSF Act, which expanded contribution requirements for both employers and employees.
The reforms aim to enhance retirement savings, improve long-term financial security for workers, and ensure the sustainability of the pension fund.
Higher contributions are expected to strengthen NSSF’s capacity to invest in income-generating assets and meet future pension obligations.
