NAIROBI, Kenya, Feb 6 – The National Social Security Fund (NSSF) has announced a 17 percent return on members’ savings for the 2024/25 financial year, up six percentage points from 11 percent in the previous year, driven by a doubling of investment income.
The fund’s total assets grew to about Sh575 billion, up 43 percent from the previous year, while member contributions rose 35 percent to Sh84 billion, underpinning the stronger performance.
Operating costs remained within statutory limits at 1.47 percent.
The jump in returns was largely attributed to higher income from long-term investments, including housing and infrastructure projects, which have increasingly become a core part of NSSF’s portfolio.
Prime Cabinet Secretary Musalia Mudavadi said the payout reflected commercial investment decisions that prioritised members’ savings over political considerations.
“It is now my distinct pleasure to declare an interest of 17 per cent on the NSSF members’ savings for the last financial year,” he said.
NSSF chairman David Kariuki Njeru credited disciplined execution of the fund’s corporate strategy, which emphasised operational efficiency, financial sustainability, and governance, for the record returns.
Managing Trustee David Koross said improved service delivery, digitisation, and faster benefit processing also contributed to the fund’s stronger financial results.
The fund received an unqualified audit opinion, reinforcing transparency and accountability.
NSSF serves 3.6 million active members and more than 77,000 employers, with participation growing in the public sector and informal economy through programmes such as Haba Haba.
While the higher return provides relief for contributors amid inflationary pressures, analysts caution that sustaining double-digit payouts may require careful balancing of risk and return, particularly as the fund continues to expand its exposure to long-term infrastructure and property assets.
