Sharp Daily
No Result
View All Result
Wednesday, October 29, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Atwoli defends NSSF contributions amid political debate

Teresiah Ngio by Teresiah Ngio
February 5, 2025
in News
Reading Time: 2 mins read
COTU Secretary-General Francis Atwoli has called for the full implementation of the National Social Security Fund (NSSF) Act of 2013, emphasizing its importance for the long-term financial security of Kenyan workers. Atwoli expressed concern over what he described as misinformation and political narratives surrounding the rollout of the NSSF contributions.

In a statement, Atwoli clarified that NSSF is not a tax but a savings scheme aimed at providing workers with financial support during retirement. “Unfortunately, many of those politicizing NSSF benefit from superior pensions or enjoy income from their numerous business ventures. Any attempts to politicize or misrepresent the revised NSSF contribution rates, which were legally enacted in 2013, only mislead the public, hinder compliance, and jeopardize workers’ long-term financial security,” he said. Atwoli urged Kenyans to ignore any opposition to contributions to the social security fund.

He also highlighted that social security is a fundamental human right as outlined by both the International Labour Organization and Kenya’s constitution. “Anyone who genuinely cares about workers should fully support NSSF in its mission to eliminate old-age poverty by ensuring that every Kenyan saves for retirement,” Atwoli emphasized.

Trade unions in Kenya have also pointed out that the country lags behind its East African Community (EAC) counterparts in social security contributions. Kenya’s NSSF contribution rate is set at 12% (6% from the employer and 6% from the employee), while Uganda mandates 15% (10% from the employer and 5% from the employee), and Tanzania sets a contribution rate of 20% (10% from both the employer and employee).

Atwoli’s statement was a response to recent remarks from Deputy President Rigathi Gachagua, who called for a push to remove certain deductions from Kenyan payslips, including the recent doubling of NSSF contributions for salaried workers. Atwoli emphasized that those who genuinely support workers’ interests advocate for better social protection, particularly after retirement.

RELATEDPOSTS

Still sending tier II contributions to NSSF by default? Time to reconsider.

June 13, 2025

Atwoli urges Ruto to amend constitution to protect national projects

November 11, 2024
Previous Post

Gachagua claims Ruto offered KES 2 billion to resign

Next Post

Self-love & financial freedom: Invest in yourself with CMMF

Teresiah Ngio

Teresiah Ngio

Related Posts

News

Who Should Invest in a Money Market Fund

October 29, 2025
News

Eastern Africa’s unified spectrum strategy to boost broadband

October 27, 2025
News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025

LATEST STORIES

How Kenya’s bond market boom could benefit everyday investors

October 29, 2025

Kenya Inflation 2025: What Steady Prices Mean for Your Savings and Best Investment Options

October 29, 2025

CIC insurance and Equity bank fined KES 1.2 bn for holding unclaimed assets in Kenya

October 29, 2025

Building trust and convenience in modern finance

October 29, 2025

Global or local? Why Kenyan professionals should consider domestic investments

October 29, 2025

Who Should Invest in a Money Market Fund

October 29, 2025

EABL to redeem KES 11.0 bn bond early to cut financing costs

October 28, 2025

Money Market Funds Explained: A Beginner’s Guide (Kenya Edition)

October 29, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024