NSSF NEW RATES 2023

Following the Court of Appeal's decision of February 3, 2023 upholding the National Social Security Fund (NSSF) Act No. 45 of 2013, the NSSF, in a press release dated February 9, 2023, issued a notice to all employers to comply with the Law regarding contribution rates.

The contribution rate is 12% of the pensionable earnings, split into two: 6% by the employee and 6% by the employer.

A cap of Ksh. 2,160 applies to employees earning more than KES 18,000. Employees pay Ksh. 1,080, and their employer will pay the same amount.

Employers who have already processed payrolls for February 2023 will have to adjust their payrolls to reflect the changes and have until March 9, 2023 to remit their NSSF contributions.

CPA Nimrod Kurgat 

Partner , Tax , Audit & IT

CPA Virginia Kamau

Tax Team Leader

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