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The NSSF is a defined contribution scheme and is financed largely by contributions from employers and employees. The total contribution is equal to 15 percent of an employee's gross salary, with the employer contributing 10 percent and the employee 5 percent. [8]: 18 The NSSF pays five types of benefits: [8]: 18
A majority of NSSF's revenue comes from employee and employer contributions. The program is a compulsory scheme and is financed with a contribution of 20 percent of employees' salaries, with half of that paid by employers and the other half paid by employees. The key trends for NSSF for 2007-2011 are shown below (as at year ending 30 June):
Website. www.nssf.or.ke. The National Social Security Fund is a Kenyan government agency responsible for the collection, safekeeping, responsible investment and distribution of retirement funds of employees in both the formal and informal sectors of the Kenyan Economy. Participation for both employers and employees is compulsory.
Richard Patrick Byarugaba is a Ugandan business executive, banker, and entrepreneur. He is the former managing director and chief executive officer of the National Social Security Fund (Uganda), a semi-autonomous retirement pension organisation for non-government employees in Uganda. He served in that capacity from November 2017 until November ...
The National Health Insurance Fund (NHIF) is a Kenya government state corporation with a mandate to provide health insurance to Kenyans. [2] The core business and mandate for NHIF is to provide accessible, affordable, sustainable and quality health insurance for all Kenyan citizens. The National Hospital Insurance Fund has published new NHIF ...
Patrick Ayota. Patrick Michael Ayota is a Ugandan accountant and corporate executive, who is the Managing Director of National Social Security Fund of Uganda, effective 18 August 2023. Between December 2022 and August 2023, he was CEO/Managing Director at NSSF Uganda, in acting capacity. His contract as MD/CEO runs until August 2028.
The public formal sector employees pay a mandatory contribution of 3% of their monthly salary and the government as an employer matches the same. This scheme covers the principal member, spouse and up to four below 18 years legal dependents. There has been a steady increase in coverage from 2% of the total population in 2001/2002 [25] to 8% in ...
Uganda Clays Limited (UCL), commonly referred to as Uganda Clays, is a building materials manufacturer in Uganda. The company manufactures baked clay building products, using Italian-made heavy clay processing machinery. The clay is excavated using surface mining techniques. The company is listed on the Uganda Securities Exchange (USE), being ...
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