Tag: retirement policy Kenya

Kenya’s NSSF reforms aimed at boosting retirement savings have backfired. Mandatory deductions of up to Sh4,320 per month have reduced take-home pay, forcing many workers to abandon voluntary savings. Contributions per person are higher, but overall savings have plunged by 47%. Without adjustments, NSSF risks becoming a scheme for the elite instead of a national safety net.

Kenya’s NSSF reforms aimed at boosting retirement savings have backfired. Mandatory deductions of up to Sh4,320 per month have reduced take-home pay, forcing many workers to abandon voluntary savings. Contributions per person are higher, but overall savings have plunged by 47%. Without adjustments, NSSF risks becoming a scheme for the elite instead of a national safety net.

Kenya’s NSSF reforms aimed at boosting retirement savings have backfired. Mandatory deductions of up to Sh4,320 per month have reduced take-home pay, forcing many workers to abandon voluntary savings. Contributions per person are higher, but overall savings have plunged by 47%. Without adjustments, NSSF risks becoming a scheme for the elite instead of a national safety net.