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NSSF unveils informal sector product October

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Workers in the informal sector will start accessing the National Social Security Fund (NSSF) products starting next month, NSSF acting Managing Trustee Dr. Anthony Omerikwa has said.

Dr. Omerikwa said the recruitment drive targeting the informal sector rolls off by next month at the end of an ongoing process of to fine-tune a product that the scheme has developed to tap into the informal sector savings.

The Managing Trustee noted with concern that though informal sector comprises over 85 per cent of the country’s total work force, the bulk do not save for the future further worsening the country’s bloated dependency ration.

“There high dependency ratio bogging down the country may be attributed to lack of a suitable mechanism that can entice workers to save for retirement,” said Dr. Omerikwa

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He said the new product that has been tailored for the informal sector’s workers represents a breakthrough that will bolster the drive to get every worker onboard a social security plan.

The Trustee spoke today while addressing representatives of the Kenya Union of Domestic, Hotels, Educational Institutions, Hospitals and Allied Workers (KUDHEIA) during a NSSF sensitization workshop at the Tom Mboya Labour College.

The workshop that was attended by KUDHEIA and NSSF’s top brass sought to spur awareness on the schemes’ growth over the years and broker ways to interact and strengthen relationship with members.

Speaking at the event, KUDHEIA Secretary General Albert Njeru said the union prioritizes investment and is keen on strengthening its partnership with NSSF on similar fronts.

He said the union is making strides in protecting its members from slumping into dependency at retirement through regular sensitization workshops targeting its affiliate unions through which individual members gain useful information on what to expect of life after retirement.

The leaders urged Kenyans to embrace the culture of saving eve if they only put aside the smallest amounts that would make little impact on their present fiancés for the sake of a secure retirement.

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