President William Ruto, on Sunday, April 23, announced that all civil servants would be deducted 3 per cent of their salary that will be contributed towards the Housing Fund.
The Head of State announced that the government had already constructed 30,000 affordable housing units in Nairobi.
“In the next two weeks, I will be in Makongeni to start construction of an extra 30,000 units. We have a plan to be constructing 100,000 affordable houses every year in Nairobi,” he promised.
President Ruto further revealed that he was impressed by the increased National Social Security Fund (NSSF) monthly contributions.
“I am happy that we did away with the law that required Kenyans to contribute Ksh200 towards NSSF. Starting two months ago, contributions are pegged at 6 per cent of everyone’s salary,” the President stated.
Like the proposed Housing Fund, Ruto revealed that employers were also mandated to contribute 6 per cent of their employee’s salary towards NSSF kitty.
“Let me give you good news, in just two months, we have doubled the money we are saving as a country. I want to promise you that we will create a big kitty that we will not have to borrow externally,” Ruto explained his vision for the NSSF kitty.
The President announced that every time the government borrows from the NSSF kitty, it would repay with interest, growing the fund more robustly
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