This archive report was first published on 2 October 2019.
On October 2, 2019, the National Social Security Fund (NSSF) revealed that it was facing significant revenue shortfalls. According to the fund, late disbursements from county governments were a major contributor to the variances in its 2018 collections.
The NSSF also cited the loss of business from the sugar sector as a significant factor, resulting in a shortfall of KSh 40.6 million in revenue.
Furthermore, the fund's revenue was impacted by reduced contributions due to late disbursements from governments to schools and employees. This deficit was exacerbated by the shrinking employee bases in companies such as KCB and Barclays, which had reduced their workforce due to interest rate caps.
The exclusion of the Fund's column from the Integrated Payroll and Personnel Database also posed a challenge to the collection of contributions from governments.
