NSSF contributions to rise
19 July 2013, 16:38
Nairobi - If the revised National Social Security Fund (NSSF) Bill set for publication next week is enacted into law, then it will mean that Kenyans earning more than KES 153,600 would contribute KES 18, 432 per month, 46 times the current contribution level.
According to Business Daily, minimum wage earners will pay KES 720, nearly twice the KES 400 per month each member contributes currently, in the first year under a graduated scale meant to alleviate poverty among senior citizens.
NSSF managing trustee Tom Odongo said that workers in occupational schemes are allowed tax free contributions of up to 15 per cent of their salary per month, split equally between the employee and the employer.
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