The National Social Security Fund (NSSF) has defended its benefits processing timelines while outlining major governance and investment reforms aimed at enhancing transparency, accountability, and long-term returns for members, ahead of its Annual General Meeting (AGM) on February 6, 2026.
Speaking during a media engagement with the Kenya Editors Guild in Nairobi, NSSF Chief Executive Officer David Koross assured members that the Fund is committed to processing retirement benefits within 10 working days, a target he described as a significant improvement in service delivery.
However, Koross acknowledged that occasional delays still occur, largely due to complex verification cases involving identity fraud and contribution irregularities.
“We have set a target to process benefits within 10 days, and we are largely achieving this. However, there are exceptional cases that require deeper verification. For instance, in Marsabit, an individual used his uncle’s NSSF number throughout his working life until retirement. Such cases require thorough investigations, which can delay payments,” Koross explained.
He emphasized that these verification processes are necessary to protect members’ savings and prevent fraudulent claims, adding that the Fund continues to strengthen its systems to detect anomalies early.
Beyond benefits processing, NSSF outlined its investment strategy and governance reforms, which form a central part of its ongoing pension sector transformation agenda.
According to the presentations made during the forum, the Fund’s investment strategy is anchored on five key principles: capital preservation, sustainable long-term growth, performance in line with benchmarks, liquidity, and diversification.
“Our fiduciary duty as trustees is to invest members’ contributions prudently and in their best interest. Our objective is long-term sustainability, not short-term gains,” NSSF officials stated.
Currently, NSSF’s asset allocation is heavily weighted towards government securities, which account for 69 percent of total investments, followed by quoted equities at 15 percent, real estate at 6 percent, and alternative investments such as infrastructure and private equity at 5 percent. This diversified portfolio has delivered a weighted average annual return of 22 percent, reflecting strong performance despite challenging economic conditions.
On governance, the Fund detailed a robust investment oversight structure managed by the Board of Trustees and supported by independent asset consultants, custodians, and professional fund managers. The framework ensures separation of duties, enhanced accountability, and continuous performance monitoring.
“Strong governance and independent oversight are essential to protect members’ funds, ensure transparency, and build trust,” NSSF staff noted.
The governance model includes regular risk assessments, compliance checks, investment performance reviews, and independent benchmarking to strengthen decision-making and minimize financial and operational risks.
The Kenya Editors Guild welcomed the engagement, calling it a crucial step in improving public understanding of pension reforms and institutional accountability.
The media briefing comes as NSSF implements wide-ranging reforms under Kenya’s pension modernization agenda, aligned with Vision 2030, targeting improved service delivery, increased contributions, better returns, and enhanced governance standards.
– By Mark Simitia
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