Why support President’s NSSF reform plan

The main reason why almost nobody wants to retire is simply because, for most Kenyans, retirement is a death sentence.

One does not need to be a rocket scientist to know that saving Sh200 per month with the National Social Security Fund (NSSF) is the biggest joke of a government policy since Independence.

Simple calculations will lay the facts bare.

A 10-year savings plan totals Sh24,000. After 20 years, it is Sh48,000. For 40 years, the total savings are Sh96,000.

The amounts cannot even buy a thoroughbred grade cow or an acre of land. To add insult to injury, the Kenya Revenue Authority (KRA) must tax the meagre savings before releasing the paltry amount to the now-old saver—mostly a sickly pensioner, whose destiny with death beckons.

That is why many employees die in less than five years after retirement. And it’s why I believe it’s a God-sent opportunity that President William Ruto is passionate about overhauling the NSSF.

It harms no one to contribute more since it’s our own money, which one is entitled to upon retirement. Let everybody save at least Sh1,000 or, for every Sh1,000 you earn, contribute Sh200 to the national pool.

Retirement is a whole new chapter in one’s life. It’s like being ejected from an aeroplane mid-air yet you are not a paratrooper.

You are given operating instructions for a parachute and few survival kits—which you are not certain will work. You are to land in enemy or hostile terrain, where nobody has time for you.

Upon retirement, more money is needed for food, housing, medication, security and running errands.

In Western Europe and North America, retirees can go on holiday abroad, set up an enterprise and live comfortably because of good retirement policies.

Most retired Kenyans must start income-generating businesses to survive because the paltry pension is not sustainable.

Let’s make retirement an attractive venture so that more room is created for the millions of young people who need jobs.

We must find ways, through Parliament, and reform the moribund NSSF as championed by President Ruto.

Robert Musamali, Nairobi

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From the time we are young, it is everyone’s dream that when they get old, their children will support them since they brought them up. However, most older people lack food, medical care and moral support since nobody wants to be associated with them. They are seen as a burden.

It’s high time we all realised that some of the old people sacrificed their comfort to give us the good life we have. Let’s help them whenever we can.

It’s not enough for the government to set up a fund, Inua Jamii, through which the elderly get a Sh2,000 monthly stipend.

But not all get it. Let officials ensure that all the older people have access to the money and also build homes for the most vulnerable. Those who don’t help the elderly or violate them should be severely punished.

Cleophas Mwangi, Kericho