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NSSF Proposed contributions
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Wendz
#1 Posted : Monday, July 22, 2013 10:27:38 AM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
While i wouldnt mind contributing for my pension, a government vehicle is not the way to go for me given the level of mismanagement of such funds and hence the pensioner does not get the full value of his/her contribution... but well, if it goes their way, Kenyan workers will find themselves between a rock and a very very hard place! Why would anyone want anyone trusting a government institution with almost 40K per month to invest in? Noooo... i can make way better investment decisions for myself than all the brains in NSSF combined over a 30 year period! seriously!

http://www.businessdaily.../-/ui7nk4z/-/index.html
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wilyum
#2 Posted : Monday, July 22, 2013 10:41:05 AM
Rank: Veteran

Joined: 12/21/2011
Posts: 1,010
add NHIF to this, meaning if you earning more than 150k u will be giving away 18+2= 20k,add tax ya 40k,gives you 60k. hii hapana, i also prefer having my cash and making my own investment decisions.
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Lolest!
#3 Posted : Monday, July 22, 2013 10:45:14 AM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
@wendz, this was long overdue! NSSF currently only deducts 1 day's lunch from employees. This amount is too little to help anyone in old age. Consider that most firms do not have pension schemes for employees and you'll see this is right. The African society fabric is also changing with no one to take care of wazee. In UG NSSF is 5pc from employee 10 from employer
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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Lolest!
#4 Posted : Monday, July 22, 2013 10:47:04 AM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
wilyum wrote:
add NHIF to this, meaning if you earning more than 150k u will be giving away 18+2= 20k,add tax ya 40k,gives you 60k. hii hapana, i also prefer having my cash and making my own investment decisions.

NSSF amount is deductible for taxation purposes
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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McReggae
#5 Posted : Monday, July 22, 2013 10:47:33 AM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Why should they interfere with those who other pension schemes....for the rot on NSSF???......Noooooooo!!!!!
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Wendz
#6 Posted : Monday, July 22, 2013 10:48:15 AM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
Lolest! wrote:
@wendz, this was long overdue! NSSF currently only deducts 1 day's lunch from employees. This amount is too little to help anyone in old age. Consider that most firms do not have pension schemes for employees and you'll see this is right. The African society fabric is also changing with no one to take care of wazee. In UG NSSF is 5pc from employee 10 from employer


They should make it optional then for those without other investment vehicles or cant do their own investments....
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Lolest!
#7 Posted : Monday, July 22, 2013 11:02:29 AM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
McReggae wrote:
Why should they interfere with those who other pension schemes....for the rot on NSSF???......Noooooooo!!!!!

for the few lucky ones who already have pension this is a disadvantage. That is,assuming NSSF has lower returns. I don't know the comparison rates. But for the rest who have no pension plans, this is a blessing.
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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washiku
#8 Posted : Monday, July 22, 2013 4:35:38 PM
Rank: Chief

Joined: 5/9/2007
Posts: 13,095
#‎NSSF‬ BOSS ‪#‎TomOdongo‬ sacked; Labour Secretary ‪#‎KazunguKambi‬ says he should vacate office immediately and hand over to Corporation Secretary.
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maka
#9 Posted : Monday, July 22, 2013 4:44:46 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Lolest! wrote:
@wendz, this was long overdue! NSSF currently only deducts 1 day's lunch from employees. This amount is too little to help anyone in old age. Consider that most firms do not have pension schemes for employees and you'll see this is right. The African society fabric is also changing with no one to take care of wazee. In UG NSSF is 5pc from employee 10 from employer


This is totally wrong...more money for fund managers
possunt quia posse videntur
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maka
#10 Posted : Monday, July 22, 2013 4:51:50 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
washiku wrote:
#‎NSSF‬ BOSS ‪#‎TomOdongo‬ sacked; Labour Secretary ‪#‎KazunguKambi‬ says he should vacate office immediately and hand over to Corporation Secretary.


The Cabinet Secretary for Labour
Kazungu Kambi on Monday
terminated the services of National
Social Security Fund (NSSF) boss Tom
Odongo. Mr Kambi cited no reasons
for the decision to sack the NSSF
managing trustee, but directed that
he should vacate office immediately
Mr Odongo was asked to hand over to
the corporation secretary Ms Hope
Mwashumbe.
Hapa kuna court case...
possunt quia posse videntur
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