Ask Yourself The Following 5 Simple Questions Before Saving With NSSF

The National Social Security Fund (NSSF) has recently enhanced their rates so that members can save more towards their retirement. After the new rates were put in place following the ruling of the Court of Appeal, there have been conflicting sentiments as to whether one should or should not contribute.

Here are the five questions you should ask yourself right now:

Should I save for my retirement? Unless you are planning to leave this earth before your retirement time, you MUST save. How would you want your retirement to be? How would you like to spend it? Would you want to spend the sunset years of your life as a burden to other people?

When should I start saving for retirement? Retirement is as inevitable as death. The sooner you start preparing for it the better. Retirement shouldn’t come your way as an accident. It should be something you look forward to.

Related Content: Haba Haba na NSSF, Helping the Informal Sector Save for Retirement

Why should I save with NSSF and not any other? Well, you can save with others but it would be better if you went with NSSF. First, they have enhanced rates and top-up options. The more you save, the more your savings grow. Second, your contributions are protected. This means, come rain, come sunshine, you always have access to your funds. Third, if anything happens to you, your family will benefit.

Has NSSF embraced technology? Of course. NSSF is one of the few institutions that thrive on the wheels of technology. One can register with NSSF via USSD *303#. One can use the same USSD to contribute. One can pay and top up via PayBill number 333300 using the NSSF number as their account number. They also have an app; the NSSF Mini-App found within the M-Pesa App.

Related Content: Why You Should Save For Retirement

Will the money I save with NSSF be enough when I retire? If you take advantage of the new rates, and be consistent, and top up often, the cash will be enough to sustain you.