NSSF spends half of employees’ contributions on administration

Money Markets

NSSF acting managing trustee Anthony Omerikwa. The fund invested only Sh95 out of each member’s monthly contribution of Sh200 in the last financial year. PHOTO | FILE 

By DAVID HERBLING, hdavid@ke.nationmedia.com

In Summary

• NSSF used Sh105 to manage each Sh200 monthly contribution in the period ending June 2015,.. translating to 52.51 per cent of collections.
• NSSF’s inefficiency saw returns to pensioners shrink to an all-time low of three per cent last year from 12.5 per cent in 2015.