An NSSF official talks to a client at the Kenyatta International Convention Centre in March 2021. RBA has invited applications from employers who want to channel part of their staff’s NSSF contributions to private schemes.
The Retirement Benefits Authority (RBA) has invited applications from employers seeking to channel their newly raised National Social Security Fund (NSSF) contributions into already existing contracted-out schemes.
Under the NSSF Act, 2013, employers are allowed to save pension contributions of their employees under the Tier 2 category in retirement benefit schemes other than the NSSF.
Tier 2 contributions are those paid by both employers and employees on top of the basic Sh720 they equally contribute (Tier 1). All employees contribute to NSSF under Tier 1.
The Retirement Benefits Authority (RBA) has invited applications from employers seeking to channel their newly raised National Social Security Fund (NSSF) contributions into already existing contracted-out schemes.
Under the NSSF Act, 2013, employers are allowed to save pension contributions of their employees under the Tier 2 category in retirement benefit schemes other than the NSSF.
