NSSF revenue collections jump to 8.4tri/- in three years

DAR ES SALAAM: The National Social Security Fund (NSSF) has increased its revenue collections from 4.1tri/- to 8.4tri/- in just three years.

This was revealed on Wednesday when the Minister of State in the Prime Minister’s Office responsible for Labour, Employment, Youth, and Persons with Disabilities, Deogratias Ndejembi, visited NSSF’s headquarters in Dar es Salaam.

He congratulated NSSF Director Masha Mshomba for scaling up revenues.

In 2021, the NSSF’s revenue collections stood at 4.1 trillion shillings.

However, the Minister demanded that NSSF management hold accountable employers who delay remitting employees’ contributions.

Delaying in remitting the statutory deductions, the Minister said, brings inconveniences to retirees when they start claiming their respective benefits.

Minister Ndejembi issued the directive on Wednesday when he visited NSSF’s headquarters in Dar es Salaam, emphasizing that employers who delay in remitting their employees’ deductions shouldn’t be tolerated.

“We will not tolerate any employers who deduct money from their employees but fail to remit it to the social security fund,” he insisted.

However, Mr. Ndejembi said that transparency is an important aspect since it will cut down unnecessary bureaucratic chains for retirees.

On his part, the NSSF boss, Mshomba, promised to implement all the priorities set by the Ministry, including improving customer service and investing the funds in strategic projects.

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