KENYANS NEED TO LEARN ON SAVING
saving is key for the future
Savings can be of great help to most people after they retire from their jobs. As the saying goes “akiba haiozi”. Many young people and everybody need to or have a saving culture. Many are the benefits that one can get when they save. This can help especially during good season and during bad seasons.
Incidences when one is injured though, they have not reached the retirement age, they can still benefit. That is according to the communications manager Dr. Christopher Khisa. He added that members who reach the age of 55 years, or when they ultimately retire from regular employment, are eligible for payment.
If it happens that you relocate to another country before reaching the retirement age they still qualify to get their money. That is emigration benefit.
Relatives of those or that individual who is deceased, they can still benefit if in case they eligibly give evidence to belong to that family.
There has to be evidence in case of any accident that may lead to show that one cannot work anymore. There has to be medical report that should confirm. “We first verify to ascertain that the claims we get are valid and that the complainants are the correct beneficiaries,” said Khisa, adding that most claims take time to be fully processed due to authentication.
In case one wants to know more about the NSSF scheme then they need to visit their offices and have more information.
In the previous month Kenyans began paying new rates after an agreement was reached between the state agency and federation of Kenya employees.
Under the NSSF Act 2013, an employee is expected to contribute 6 per cent of their salaries to the NSSF and another six per cent to be matched by their employer.
An employee in Tier I – earning Ksh.6,000 per month – should be deducted Ksh.360 per month, and their employer to pay a similar amount making it a total of Ksh.720.
An employee in tier II who is earning Ksh.18,000 and above per month becomes the upper limit of contributions, paying Ksh.1,080, their employer should match up a similar amount to give a total of Ksh.2,160.
This is up from a flat rate of Ksh.200 that all the employees have been paying.