The National Social Security Fund (NSSF) has declared a 17% return for its contributors for the financial year 2024 -2025 up from 11% in the last financial year 2023-2024.
Despite a tough economic environment, NSSF recorded one of its strongest performances to date. Member contributions rose from the previous year by 35% to KES 84 billion, while total assets grew to approximately KES 575 billion, representing growth of over 43%.
Investment income more than doubled, delivering a gross return of about 22%, with operating costs maintained at around 1.47%, within the statutory limit.
Speaking during the 8th Annual General Meeting, Prime Cabinet Secretary and Cabinet Secretary for Foreign Affairs and Diaspora Affairs, Hon. Musalia Mudavadi, commended NSSF for using members’ savings to support retirement security and national development through investments in housing and infrastructure by effecting commercial as opposed to political decisions.
“It is now my distinct pleasure to declare an interest of 17% on the NSSF members’ savings for the last financial year. This is the highest return in the history of NSSF. Now that we have set the bar, our expectation is that next year’s returns will be even higher.”
NSSF Chairman Hon. David Kariuki Njeru, attributed the strong performance to disciplined execution of the Corporate Strategic Plan, which focused on better service, financial sustainability, operational efficiency and organisational resilience.
Hon. Njeru noted that the Fund is on course towards becoming a Trillion shilling fund, while remaining firmly anchored on good governance and accountability.
NSSF Managing Trustee Mr. David Koross highlighted improvements in service delivery, driven by digitization, improved benefit payment processing period to about 10 days, down from 89 days as contributors to the strong performance. Additionally, the Fund received an unqualified audit opinion, reinforcing transparency and accountability.
NSSF currently serves 3.6 million active members and more than 77,000 employers, with growing participation from public servants and informal sector workers through initiatives such as Haba Haba.
Speakers at the AGM emphasized that every shilling saved through NSSF is both a “seed of future security” for the member and part of a national savings pool that finances jobs, housing and development across the country.
The theme “Our Savings, Our Shared Prosperity” underpinned discussions on strengthening the savings culture, expanding coverage, and ensuring that the benefits of fund growth are felt by members and communities alike.
