By Dorothy Musyoka
The National Social Security Fund (NSSF) held its 7th Annual General Meeting (AGM), marking a pivotal moment in Kenya’s journey toward comprehensive social protection.
Graced by [Cabinet Secretary for Labour and Social Protection Dr Alfred Mutua, the event underscored NSSF’s impressive growth, reforms and commitment to securing the future of Kenyan workers.
The CS lauded the Fund’s remarkable performance, with assets now surpassing Ksh. 500 billion.
“This is not just a number. It represents sound governance, public trust, and the capacity to transform lives through investments in housing, energy, infrastructure, and other key sectors,” stated CS Mutua.
A major highlight of the AGM was the declaration of an 11% interest rate on member contributions a significant return, especially amidst global economic uncertainties impacting pension funds.
The performance was praised as both resilient and responsive, reinforcing confidence in the Fund’s management and long-term sustainability.
The meeting also spotlighted key reforms aligned with Vision 2030, the Bottom-Up Economic Transformation Agenda (BETA), and the Sustainable Development Goals (SDGs), particularly in areas of poverty reduction, decent work, and financial inclusion.
The CS also emphasized the importance of indexation of contributions, a globally recognized practice that ensures retirees receive adequate and sustainable benefits over time.
This aligns Kenya with international standards and safeguards the purchasing power of pensioners.
Reaffirming the Ministry’s commitment, Mutua highlighted efforts to broaden coverage, through digital innovations.
“As a Ministry, we are committed to deepening financial inclusion especially for informal sector workers through digital platforms and innovations like the “Haba Haba” product, which offers dignity and stability in old age,” stated the CS.
Additionally, the CS called on NSSF to accelerate benefit portability in collaboration with East African Community (EAC) partners a key enabler of labour mobility and regional economic integration.