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The Standard e-Paper
Kenya's Bold Newspaper
LSK has warned it may pursue contempt of court proceedings against government agencies and employers continuing enhanced NSSF deductions.
LSK warns that continued NSSF deductions are illegal, urges employers to comply with the Court of Appeal's ruling, reverting the contributions to Sh200.
COFEK has sued NSSF and the government, seeking to stop the enforcement of enhanced NSSF contribution rates and compel employers to revert to the previous Sh200 monthly deduction.
The Court of Appeal has upheld a ruling blocking enforcement of the NSSF Act, 2013, meaning Kenyan workers and employers will continue paying the lower Sh200 monthly contribution.
NSSF Tier II should be viewed as a deferred income, your personal retirement savings, and both employers and employees should take a close interest in how and where this money is invested.
NSSF posted a record 17% return on member savings and aims to grow its fund to Sh1 trillion by 2027, despite concerns that higher mandatory contributions could reduce workers’ take-home pay.
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