The national social security fund (NSSF) unveiled a parallel product to its social security mandate targeting to carter for the majority of members in the informal sector. The social security product dubbed – HABA HABA na NSSF intents to bring onboard members who are currently not employed mostly those in the informal sector such as of the Digital Taxi Forum, Boda Boda Safety Association and Taxi Owners Association. On the other hand, most employers in Kenya has subscribed to the scheme where they remit part of their employee’s salaries to NSSF for their social welfare after retirement.
While launching the activation of the product at the Panafric Hotel, Nairobi, Nairobi’s senator Johnson Sakaja lauded the move by NSSF, adding that Social Security had in the past covered Kenyans only in the formal sector. However, by launching the Haba Haba na NSSF product, it was a major step and support to the informal sector players who had been exposed to no formal Social Security protection. He further challenged the Fund to maintain its focus on the immense potential that exists in the informal sector by ensuring that every sector is covered.
On his part, Sakaja indicated his intentions to have the inclusion of the informal sector players into formal social security coverage through a legislation that was soon to be tabled in Parliament to ensure that the NSSF includes this category of Kenyans into formal Social Security savings.
Touching on the street vendors who are all over within Nairobi county, the senator noted that Haba Haba na NSSF product would resonate well with the Kenyan Constitution article 43 (1) (e) which provides for the rights of all Kenyans to Social Security.
The national social security fund (NSSF) is currently collaborating with Proto Energy, NHIF, KCB, and Safaricom as value addition and to provide an attractive package that will address the needs of prospective, present and future NSSF members in the informal sector while increasing coverage of Social Security to all Kenyans.
How much you can contribute with HABA HABA na NSSF product
Members who choose to subscribe to the scheme can save a minimum of Ksh. 25 a day, with the option of withdrawing 50% of their contribution after consistently contributing for a minimum of 5 years. This is unlike other benefits NSSF offers in the formal sector where members have to retire or attain the age of 50 to access their savings.
Dr.Anthony Omerikwa, CEO/Managing Trustee at NSSF noted that majority of Kenyans in the informal sector were not covered by any pension plan for various reasons. With the Haba Haba product, he said it’ll steer the push to create an all-inclusive legislative framework that will be premised within the ambit of the NSSF Act 2013.
He concluded by adding that the HABA HABA na NSSF product was targeting people in the informal sector who are a critical mass that cannot be ignored, ensuring they have a decent life after retirement.
How to register to HABA HABA na NSSF
Members can register and easily access their NSSF statement, make contributions or even follow up on their benefits by dialing *303#.