NSSF Assets Rise 43% on Stronger Contributions and Investment Returns

By Linet Amuli - Reporter

Kenya, 24 January 2026 - Contributions to Kenya’s National Social Security Fund (NSSF) climbed sharply in the year ending June 2025, reaching KSh 83.97 billion , a 35% increase compared to the previous year.

This rise reflects stronger enrolment and the government’s broader push to encourage long-term savings among workers.

The latest figure is up from KSh 62.29 billion recorded in the 2023/2024 financial year. President William Ruto has previously announced plans to grow the fund’s assets to KSh 1 trillion by 2027 as part of efforts to strengthen retirement security.

Growth in contributions was supported by an expansion in the number of active contributors, which increased by 8% to 3.6 million members from 3.3 million a year earlier.

As a result, total member savings held by NSSF climbed to KSh 572 billion by June 2025, representing a 43 per cent rise from KSh 400 billion in the prior year.

However, the fund still needs an additional Ksh428 billion to reach the government’s stated target.

NSSF’s investment portfolio also expanded significantly. Investment assets rose by 43 per cent to Ksh558 billion in 2025, up from KSh 389 billion in 2024 , an increase of KSh 168 billion.

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The fund’s performance improved markedly, delivering a 22% return on investments in 2025, compared with 12.02% the year before. Net income from investments more than doubled to KSh 105.3 billion, from KSh 41.7 billion in the previous financial year.

For contributors, this growth translates into higher potential retirement benefits in the long term. Regular deductions, particularly for younger workers and those in self-employment, can accumulate substantially over time through compound growth.

Despite these gains, payouts to members declined slightly. Benefits paid out dropped by 10% to KSh 8.74 billion in 2025, down from KSh 9.71 billion in 2024. This reduction was linked to fewer benefit claims, with applications falling by nearly 12,000 , an 11% decrease compared to the previous year.

Even with the strong financial performance, pension coverage in Kenya remains limited. Estimates show that only between 10.6% and 25% of the working-age population is currently enrolled in pension schemes such as NSSF.

By late 2024, the fund had about 7.5 million registered members, but only around 3.7 million were making regular contributions. This means the majority of Kenyans ,between 83% and 89%, still lack consistent retirement savings, leaving many vulnerable to financial hardship in old age.