NSSF to publish names
01 November 2012, 13:03
The National Social Security Fund (NSSF) Chief Marketing Manager Olive Lumonya has categorically stated that over 26 000 workers whose names appear to be missing in their registers shall be published on local media.
According to Lumonya, this will assist in updating their records since companies have been making monthly remittances for their employees yet their money is never accounted for.
“This will ensure that all workers whose names would be availed in the register would monitor their monthly savings,” said Lumonya.
According to a speech delivered by the officials during a press briefing, it emerged that a total of KES 10 billion deposited in the fund has not been registered in the accounts of the respective beneficiaries.
“We do have people who have been in employment but have never registered for the fund yet their employees submit their remittances to the fund. The current register in our database dates back to the year 2005 and there is a need to have it updated to reflect the current position,” explained Lumonya.
According to NSSF’s records, about half a million registered workers are currently saving with the fund.
The nation’s savings have been adversely affected by the unpredictable harsh economy.
However, it is estimated that a total of $700 million is being held in fund in the form of savings.
This poor saving culture can be solved through liberalization of the sector.
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