NSSF paybill number; How to Make NSSF contributions

In simple terms, National Social Security Fund (NSSF) is a like a saving for individuals who are employed in Kenya. You can make monthly contribution up to your retirement time or 55 years then you can claim the money you saved. Contributions have been made eaier thanks to NSSF M-pesa paybill number that is currently in use. The dependent(s) or relative(s) of a deceased NSSF member can also claim the money.

The Kenyan law requires all employers to register and submit their employees NSSF contributions every month. It is mandatory.

How to submit NSSF contributions via M-pesa pay bill

With M-pesa being a common method of payment in Kenya, most people use it to make their monthly NSSF contributions. Follow these steps to pay for NSSF via NSSF paybill number:

Go to Your M-pesa Menu and Select Lipa na M-pesa
Select Pay Bill
Enter Business number: 333300
Enter account no: Your NSSF Number
Enter the amount you wish to pay for (Between Ksh. 200 to 70,000)
Enter M-pesa Pin
Confirm Details and Press Ok

You will receive a text message confirming that the amount has been sent

What are the NSSF rates?

How to pay NSSF via M-pesa according to the NSSF Act 45 of 2013, the Upper Earning Limit will be Ksh. 18000 while the Lower Earning Limit will be Ksh. 6000. The pension contribution will be 12% of the pensionable salaries and wages. The NSSF monthly rates deducted equally between the employer and employee. Therefore, the employer pays 6% and the employee pays the other 6%. The employees’ contributions will be deducted directly from their salaries and wages while the employers’ contributions shall come from the employers

Does the Late Payment of NSSF attract any penalties?

NSSF contributions, Just like NHIF should be deducted and submitted in full every month. However, late payment of the monthly NSSF contributions will attract a 5% penalty of the total contributions for each month or part of the month the employer or employee has failed to pay their contribution.