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CAN I INCREASE HOW MUCH I SAVE WITH NSSF?

By Editor

 


Mateyo received an MTN alert saying his monthly NSSF contribution had been paid to National Social Security Fund (NSSF).He excitedly showed his wife Swiriri so that she would know that he was ‘securing their future’. After some thought, Swiriri (who is a self-employed tailor) asked Mateyo if it was possible for her to also save or if Mateyo’s boss can send in more money on their behalf to NSSF?

 

CAN SWIRIRI ALSO SAVE? 

Yes. Although the law requires certain people to make NSSF contributions, it also allows those people who are self-employed (and do not meet the NSSF requirements) to apply to NSSF and be allowed to make contributions. Therefore, Swiriri can apply to become a member of NSSF so that she can start saving her money with NSSF. This can be done either online or physically at any of the NSSF branches by providing copies of her passport photos and national Identification card. Once she has been registered, she will be given a Membership number and card and she can start to save with NSSF. 

 

CAN MATEYO REQUEST HIS BOSS TO PAY MORE TO NSSF FROM HIS SALARY? 

The required minimum standard contribution to NSSF is 15 %. An employee is required to contribute only 5% from his monthly salary and his boss 10% making it a total of 15%. However, if Mateyo believes that he is able to contribute more than 5% of his salary, then he can request his boss in writing and indicate the amount he wants saved.   


Do you have any questions on NSSF that you would need our help with? Feel free to reach out to us.


📷: Freepik

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