12/01/2024
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As expected NSSF Kenya has issued an NOTICE to all Employers on the 2nd year implementation of Tier 1 and Tier 2 contributions.
Here, the Lower Limit rises to Kes. 7,000 while the Upper Limit doubles to Kes. 36,000. Which means any Employee earning Kes. 36,000 will be deducted 6% of their gross pay as Total NSSF contributions which the Employers must match.
An employee earning any amount above Kes. 36,000 will see a deduction of Kes. 2,160 (6% × 36,000) on their payslip as an NSSF contribution which the Employers must match as well.
The Lowest contribution an employer will deduct and match for their Employees towards NSSF rises to Kes. 420 (6% ×7,000) which we refer to us Tier 1 contribution.
Be in the know.
Britam
ICEA LION GROUP
MavenTribe Insurance Agency