Sharp Daily
No Result
View All Result
Tuesday, July 15, 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

TSC to end direct Sacco deductions for teachers by February 2025

Teresiah Ngio by Teresiah Ngio
January 6, 2025
in News
Reading Time: 1 min read
TSC Headquarters

[Photo/Courtesy]

The Teachers Service Commission (TSC) has announced a major shift in its payroll management system, confirming that by February 2025, it will end direct Sacco deductions from teachers’ salaries. This move will transform how teachers in Kenya contribute to Savings and Credit Cooperative Organizations (Saccos) and repay loans.

TSC has framed the decision as an effort to streamline payroll processes while giving teachers more control over their finances. For years, Sacco contributions and loan repayments were automatically deducted, a system that ensured convenience but drew criticism over unauthorized deductions and delays.

Under the new arrangement, teachers will be responsible for managing their own Sacco payments through modern channels like mobile money or online banking. “This change empowers teachers to take charge of their financial obligations while modernizing the payment process,” a TSC representative noted.

Reactions to the announcement have been mixed. Teacher unions have expressed cautious optimism. “It’s a step towards financial autonomy for our members, but adequate support must be provided to help teachers navigate the transition,” said a union official.

RELATEDPOSTS

TSC announces new guidelines for TTC lecturer positions in 2025

December 17, 2024

TSC delays promotion of primary school heads to junior secondary pending new agreement

November 7, 2024

Sacco leaders, however, have raised concerns about potential loan defaults. “Payroll deductions guaranteed timely payments. With this shift, there’s a risk of increased non-repayment, which could affect Sacco operations,” remarked a Sacco chairman.

To address these concerns, TSC has planned financial literacy workshops to help teachers adapt. These sessions will focus on budgeting, payment tracking, and using digital tools for managing finances. “Our goal is to equip teachers with the necessary skills to handle their financial obligations effectively,” TSC stated.

Sacco organizations are also being urged to enhance their systems to support digital payments and make their services more accessible to members.

As February 2025 approaches, teachers are encouraged to review their financial commitments, familiarize themselves with digital payment options, and attend the training sessions.

Previous Post

Carren Muga arrested over Nandi police station lynching

Next Post

Start strong: Why CMMF should be your first investment of 2025

Teresiah Ngio

Teresiah Ngio

Related Posts

Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025

LATEST STORIES

Why Employers Should Prioritize Pensions Over One-Time Gratuity Payments

July 10, 2025
Business and Finance Concept - Coin, Currency, Financial Item, Graph,

Opinion: Why lower taxes may be Kenya’s only escape route

July 10, 2025

Nvidia becomes the first company globally to hit USD 4.0 trillion market value

July 10, 2025

Privatization in Kenya: A new dawn for capital markets and fiscal stability

July 10, 2025

How Kenya is future-proofing its economy against illicit finance

July 9, 2025

The importance of Investment Policy Statements (IPS) for pension schemes in Kenya

July 4, 2025

Understanding Life Cover as an Additional Benefit in Retirement Benefit Schemes

July 4, 2025

Del Monte foods files for bankruptcy in USA

July 3, 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