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NSSF Proposed contributions
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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newfarer wrote:maka wrote:Wendz wrote:maka wrote: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 immediatelyMr Odongo was asked to hand over to the corporation secretary Ms Hope Mwashumbe. Hapa kuna court case... Whaaaat? Kwani what has happened now? Kazungu Kambi is mad...if this goes to court he will get 12 months salo as statutory compensation for unfair termination, one months salary for every year worked and his pension maka which ACT are you quoting?hope its not employment act 2007 which to me as an employee is a useless piece of legislation I dont think its useless.Anyone who has acted for an employer at the Industrial Court knows it is really benefitting employees...those surviving on the lower pay bracket though. possunt quia posse videntur
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Seems Kazungu Kambi is preparing ground for the billions...... ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Member Joined: 10/29/2009 Posts: 40
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NSSF contributions, under the new NSFF Bill (2013) have been enhanced over NSSF Bill (2012) in ways that make the new Bill more than just contributions.
In effect if you are an employer pension contributions are to go up by approximately 6% of your wage bill.
Second, the definitions of employer and employee are very expanded. For instance employers means an employer with one or more than 1 employee and is required to contribute to the NSSF the employer contribution and deduct as well as remit the employees contribution. The definition of employee is very expanded right now.
Pension contributions are now pegged at a minimum of 12% of earnings.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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If Warren Buffet can run Berkshire Hathaway with only 13 employees then NSSF should emulate this given they are in the same business! Admin costs at our dear NSSF must not exceed 200million per year and this equates to about 25-30 employees maximum! Mark 12:29 Deuteronomy 4:16
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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Self employed tuko sawa with our personal pensions schemes; poleni huko NSSF!!! Hii pia ni ya shina ama? No wonder Odongo was thrown out haraka haraka mara hiyo hiyo!!! Thieves
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Good idea, bad vehicle. I especially like the 15% contribution by employers but corruption nayo huko NSSF? I also don't like that Ruto is backing it up at a time when the Gov is not doing well financially. BBI will solve it :)
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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2012 wrote:Good idea, bad vehicle. I especially like the 15% contribution by employers but corruption nayo huko NSSF? I also don't like that Ruto is backing it up at a time when the Gov is not doing well financially. Jokes aside, this thing will cripple employers wacha tu. and then ati 15% contibution to NSSF; boss Thieves
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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guru267 wrote:If Warren Buffet can run Berkshire Hathaway with only 13 employees then NSSF should emulate this given they are in the same business!
Admin costs at our dear NSSF must not exceed 200million per year and this equates to about 25-30 employees maximum! Hapo umegonga ndipo... possunt quia posse videntur
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Rank: Member Joined: 10/29/2009 Posts: 40
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The proposal is 6% employer and 6% employee total 12%.Self employed persons are place in an awkward situation especially if they have employees. The way it looks the best is to push for improved management of NSSF and less circus. Individuals with occupational schemes or in personal pension plans have a partial opt-out option.
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Rank: Member Joined: 10/29/2009 Posts: 40
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maka wrote:guru267 wrote:If Warren Buffet can run Berkshire Hathaway with only 13 employees then NSSF should emulate this given they are in the same business!
Admin costs at our dear NSSF must not exceed 200million per year and this equates to about 25-30 employees maximum! Hapo umegonga ndipo...
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