The attention of the National Social Security Fund (NSSF) has been drawn to a story published in the business pages of the Sunday Nation last week (“Retirees’ cash at risk as NSSF makes costly blunders”, February 3, 2019).
As much as your reporter claims to have been making reference to the Auditor-General’s report of the year ending June 30, 2017, he got information grossly wrong.
In his story, he alleges that in the year under review, 11 NSSF directors were paid Sh2.45 billion, while the fact is that the directors were paid Sh2.45 million which is in line with the State Corporations Advisory Agency guidelines.
The Board of Trustees holds meetings on a regular basis as per the annual work plan while special meetings are called when deemed necessary. The role of the NSSF board and its committees is as per the board charter and approved by the Cabinet Secretary with authorised rates of remuneration in line with State corporations guidelines.
The allegations that the trustees in the Human Resources and Legal Board Committee were paid Sh1.15 billion for five meetings is false as the actual figure is Sh1.15 million, which works out to a total average of Sh230,000 per meeting for a committee of five to six members depending on quorum and attendance.
On the Mavoko land sale, the transaction stalled and the land title deeds are still in the name of NSSF. To date, no titles and land have changed hands. The other issues raised by the article are regular audit processes and were adequately responded to by the Fund to the Auditor General and the Public Investment Committee of the National Assembly. We find this report malicious and damaging to the image of NSSF.
Details of the information above are available to the public on our official website www.nssf.or.ke (click downloads), financial statements and all our social media pages: NSSF_ke on Twitter and NSSF Kenya on Facebook.
We would like to assure all our members and the public that retirees’ funds are safe and being managed diligently.
Dr Christopher S. Khisa, NSSF Public Relations and Communications manager