Retirement is inevitable. But the earlier you prepare for it, the better. Many people cringe at the mention of retirement. They do not want to be reminded about it. They are scared about it the same way they are scared about death. No doubt.
But the news about retirement shouldn’t be scary. It shouldn’t be something that shakes one to the core. It should be something that one would always look forward to. Life is hard, yes, but we can always be prepared for that one day when it comes.
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The best way to prepare for retirement is to save. And there is no better way of saving than putting aside as little as 25 shillings daily, or 500 shillings regularly. The National Social Security Fund (NSSF) makes this possible. You do not need to be in formal employment to save.
NSSF has a product called Haba Haba that lets you save as little as 25 shillings daily. All you need is to dial *303# and register. After registering, contributing is the easiest thing. You do not need to visit anywhere but everything is on your phone.
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NSSF has made it easy for members to contribute via their Paybill which is 333300. Here is how to go about it:
- Go to M-Pesa
- Select Lipa Na M-Pesa
- Select Paybill
- Enter Paybill 3333000
- Enter your Account Number (Here, use your NSSF Number)
- Enter Amount
- Press “Send” or “Okay”
You will be done.
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Now, why should save with NSSF? First, your funds will be safe. They are reinvested and insured. Your initial cash will never be lost. Second, you earn interest. By the time you retire, your cash would have accumulated and you will have a happy retirement. And third, it cuts on pressures of life, when you retire and your normal stream of cash stops or reduces.