Why Waste Ink Writing Cheques? NSSF Won’t Take Them

By Juma / Published May 24, 2023 | 9:54 am




KEY POINTS

When it comes to making contributions to the National Social Security Fund (NSSF), cheques are no longer necessary. Why go through all the trouble of writing the cheques that might sometimes bounce when NSSF has made it easy for you to remit your contributions? 


NSSF

There is some prestige that comes with writing the cheques. There is some sense of pride when you tear that piece of paper, write the amount, the name of the receiver, and sign it off… It makes you look like a boss who walks around with a checkbook.

But cheques have their own disadvantages. One, they take a long time to “mature”. So take as long as 72 hours. Woe unto you if you bank them on a Friday, or on a day that precedes a public holiday. They will take their sweet time, whether you like it or not.

Related Content: Here Is The Easiest Way To Make Your NSSF Contributions

What is more, cheques take most of your time, especially if the receiving bank is at a distance. You will have to either take some time off your busy schedule to go and bank it, or send a rider (who you will have to pay) to deposit it on your behalf.

When it comes to making contributions to the National Social Security Fund (NSSF), cheques are no longer necessary. Why go through all the trouble of writing the cheques that might sometimes bounce when NSSF has made it easy for you to remit your contributions?

Related Content: Why NSSF Is No Longer Accepting Payments Via Cheques

Remittance of contributions to NSSF can be done through; cash option, EFT and RTGS, and M-Pesa. First, one will have to generate a Unique Payment Number (UPN)/Payment Order (E-Slip) from the NSSF e-Service portal by clicking HERE.

For the bank option, the payment can be done at three commercial banks; KCB Bank, Co-operative Bank, and the National Bank accounts. The bank accounts are; KCB (1103265954 or 1107110270), Co-op Bank (0113620175000), and the National Bank (0100300283701).

Related Content: Why Opting Out Of NSSF For Any Other Private Pension Service Providers May Pose A Risk To Your Future Financial Security In Kenya

For Cash Option: Present the E-Slip and the corresponding cash to KCB Bank for processing after which a receipt will be available at the NSSF e-Service portal. For self-sponsored/voluntary members, remit the cash to the KCB Bank together with your NSSF membership number.

For EFT and RTGS payment options, the reference filed in the form MUST be filled with the Unique Payment Number quoted on the E-slip. The employer shall download a receipt from the e-Service portal in real-time upon executing the transaction successfully.

For M-Pesa Option: Use the Pay Bill Number 333300 and the UPN/E-Slip Number as the account number. The receipt would then be downloaded on the NSSF e-Service portal. For self-sponsored/voluntary members, pay through the Pay Bill Number 333300 and quote your NSSF Membership number as your Account Number.

Related Content: NSSF Kenya: The Best Option For Securing Retirement For All




About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

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