NSSF’s investment story has evolved into strong, growth‑driven performance anchored in higher contributions, robust investment returns and a rapidly expanding asset base.

Investments overview

NSSF operates under a strong corporate governance framework, with the Board of Trustees mandated to safeguard members’ savings through prudent investment, risk management and ethical conduct. Governance, transparency and compliance with the NSSF Act and Retirement Benefits Authority (RBA) guidelines are central to all investment decisions, ensuring every shilling is managed in the best interests of members, employers and the wider economy. The Fund’s investment strategy prioritizes long‑term value creation, diversification across asset classes and sustainability in support of Kenya’s development agenda.

Contributions, benefits and member returns

Higher member contributions and disciplined benefit payments have strengthened the Fund’s cashflows and provided a solid base for investment growth. Over the last two years, NSSF has translated this strong performance into higher member value, crediting accounts with double‑digit interest rates in both 2023/24 and 2024/25, culminating in a historic 17% rate for the FY year 2024/25.

Investment income and asset growth

NSSF’s investment portfolio has expanded sharply in recent years, driven by a deliberate shift to income‑generating assets and favourable market conditions. Total investments rose from about KES 308 billion in December 2022 to KES 328 billion in December 2023, and to roughly KES 402 billion by mid‑2024, before reaching around KES 558 billion by June 2025. Over the same period, net investment income more than doubled to about KES 105.3 billion in 2024/25, implying an estimated 22 percent return on investments, up from roughly 12 percent the previous year.

Fund assets have crossed the KES 500 billion mark and are on track to reach about KES 1 trillion by the 2027/28 period, supported by higher contributions and strong investment performance. This positions NSSF as a leading institutional investor in Kenya’s economy while reinforcing long‑term security for members’ retirement savings.