Parliament passed the National Social Security Fund (NSSF) Bill, 2019

Submitted by on Thu, 09/09/2021 - 14:29

The Bill will see contributors aged 45 and above have mid-term access to their savings. Mid-term access provides for additional benefits and relief to members of the Fund before they reach the age prescribed by the law. Section 12 of the NSSF Act was also amended to provide for dual supervision of the Fund. Ministry of Gender will be in charge of the social security arm of the Fund, which deals with the welfare of workers and their savings while Ministry of Finance, Planning and Economic Development will supervise the Investment arm of the Fund, which deals with the business component where savings are invested in assets to generate income.