The National Social Security Fund (NSSF) was established by the Act of Parliament No. 28 of 1997 to replace the defunct National Provident Fund (NPF). NSSF is a compulsory scheme providing a wider range of benefits which are based on internationally accepted standards.
You may use the following link to download the NSSF Establsihment Act (306.92 kB)
NSSF covers the following categories of employers and employees:-
The scheme is financed through contributions at the rate of 20% of employees’salary. The employer is required to deduct from employee’s gross salary the amount of contribution not exceeding 10% of the employee’s salary. The employer adds the remaining balance to make the required contribution rate of 20%.
NSSF is a fully funded scheme running under defined benefit principles. All funds collected are wholly invested for the purpose of financing benefit payments.
The scheme provides seven benefits which are categorized as long term benefits and short term benefits as follows;
Pension is a term which expresses all long-term benefits offered by the scheme. It defines periodical payments given to a retired member, invalid persons and survivors of the deceased member to replace the loss of income resulting from old age, disability or death.Important issues under NSSF Benefits