NSSF announces 15% interest rate

By Moses Ndahye.

The National social security Fund has announced a 15% interest rate to be paid to all its members.

Officiating at the annual General meeting of the Fund, the state minister for Finance Gabriel Ajedra said a sum of shs 1.1 million will be paid to its members who are saving with the Fund.

Currently about 2 million people are saving with the National social security Fund and a total of shs1.5 trillion has been contributed by these members to the fund.

Ajedra says this is going to be the first time the fund will pay such an interest rate to its members.

In the previous year the fund paid 11.23% to its members.

The fund meanwhile has a total income of 10 trillion shillings in assets.