ADVOKS GLOBAL · KENYA
National Social Security Fund Act
4. Objects of the Fund
Edition: 2022-12-31 · In force
4. Objects of the Fund
The objects of the Fund are to—(a)provide basic social security for its members and their dependants for various contingencies as provided under this Act;(b)increase membership coverage of the social security scheme;(c)improve adequacy of benefits paid out of the scheme by the Fund;(d)provide a full opt-out at Tier II level of contributions for employers who have or are contributing to pension schemes approved and registered by the Authority;(e)bring within the ambit of this Act self-employed persons to access social security for themselves and their dependants;(f)operate and manage a scheme that is value-adding to its members by, inter alia—(i)ensuring that the Fund and its social security systems are sustainable and affordable; and(ii)retaining the Old Provident Fund for purposes of dealing separately with liabilities, obligations, assets and any matters or issues connected therewith to avoid transferring the same to the Fund established under this Act;(g)ensuring that the liabilities of the Old Provident Fund are settled within five years from the commencement of the new Provident Fund and the close of the Old Provident Fund;(h)do any other thing or take any measure permitted by this Act for purposes of attaining any or all these objects and for purposes of effective enforcement and application of this Act.