Public financeGazette notice
Gazette Notice No. 3359 of 2025
National Social Security Fund publishes its audited financial statement for the 2023/2024 financial year.
Official PDF · 1.5 MB
Whole issue, from Kenya Law. This notice starts on printed page 1165.
AI-extractedAgreement between models, not verified accuracy.
What the notice says
-
Financial statement
Link- Body
- National Social Security Fund, Board of Trustees (Approved the Fund’s Financial Statements)
- Auditor
- Auditor General (Audited the Fund’s Financial Statements)
- Document access location
- NSSF Head Office
- Place
- Bishops Road
- Office
- CEO/Managing Trustee, Chairman Board of Trustees
- Financial year
- 2023/2024
- Ends
- 30 June 2024
- Contributions growth
- Member contributions grew by KSh. 35.41 billion or 132%, from KSh. 26.87 billion in June 2023 to KSh. 62.29 billion in June 2024.
- Member benefits growth
- Member benefits grew by KSh. 3.04 billion or 46%, from KSh. 6.68 billion in June 2023 to KSh. 9.71 billion in June 2024.
- Net investment income
- 3. Net Investment Income Net investment income grew by KSh. 29.37 billion or 238%, from KSh. 12.34 billion in June 2023 to KSh. 41.70 billion in June 2024.
- Investment assets
- 4. Investment Assets Investment assets increased by KSh. 85.67 billion or 28%, from KSh. 304.04 billion as at 30 June 2023 to KSh. 389.71 billion as at June 2024.
- Members funds
- 5. Members Funds Members Funds increased by KSh. 88.02 billion or 28%, from KSh. 312.12 billion as at 30 June 2023 to KSh. 400.15 billion as at 30 June 2024.
- Net return on investments
- 6. Net Return on investments The Fund’s investment assets earned a net return of 12.02% in June 2024 compared with 4.24% recorded in June 2023.
- Financial statements access
- 7. Access to Audited Financial Statements The Statement of Net Assets and Statement of Changes in Net Assets are extracts from the Fund’s Financial Statements approved by the Board of Trustees and audited by the Auditor General in accordance with the provisions of the Public Audit Act, 2015. A full set of these Financial Statements is available at NSSF Head Office, Bishops Road, and on the Fund’s official website: www.nssfkenya.co.ke
Schedule 91 rows
| 2024 KSh. | 2023 KSh. | |
|---|---|---|
| Dealings With Members Funds | ||
| Remitted member contribution | 59,143,557,370 | 26,873,595,651 |
| Unremitted member contribution | 3,144,845,013 | - |
| Contributions receivable | 62,288,402,382 | 26,873,595,651 |
| Benefits Paid | (9,713,289,277) | (6,675,201,682) |
| Net Surplus from dealings with members | 52,575,113,105 | 20,198,393,969 |
| Investment Income | ||
| Investment Income | 39,617,489,184 | 30,968,154,051 |
| FV gain/(loss) on revaluation of Investments | 2,988,668,249 | (18,436,442,556) |
| Gain/(loss) on realization of investments | (215,684,206) | 457,177,114 |
| Investment Management Expenses | (686,881,726) | (653,178,520) |
| Net Investment Income | 41,703,591,501 | 12,335,710,089 |
| Other Income | 611,518,345 | 540,655,817 |
| Net Revenue | 42,315,109,846 | 12,876,365,906 |
| Operating Cost | ||
| Administration cost | (6,950,213,769) | (6,209,643,619) |
| Provisions | 84,366,599 | (466,149,601) |
| Total operating cost | (6,865,847,171) | (6,675,793,219) |
| Net increase in the Fund for the year | 88,024,375,781 | 26,398,966,656 |
| As previously reported | 312,121,831,596 | 285,722,864,940 |
| As restated | 312,121,831,596 | 285,722,864,940 |
| Net Assets as at 30 June | 400,146,207,377 | 312,121,831,596 |
| 2024 KSh. | 2023 KSh. | |
|---|---|---|
| Investment Assets: | ||
| Term and Demand Deposits | 11,444,491,210 | 14,930,219,070 |
| Government Securities- (Treasury bills) | 8,771,040 | 1,212,194,817 |
| Government Securities- (Treasury bonds) | 253,804,875,051 | 186,564,962,441 |
| Eurobonds | 7,168,671,038 | - |
| Corporate bonds | 1,723,248,494 | 1,741,965,721 |
| Accrued Income | 10,946,061,715 | 7,583,682,198 |
| TPS Loans | 2,543,385,556 | 2,700,512,336 |
| Private equity and other unlisted securities | 5,498,131,920 | 787,911,498 |
| Quoted Stocks | 61,185,359,154 | 52,986,064,443 |
| Investment property | 35,389,483,481 | 35,535,225,456 |
| Total Investment Assets | 389,712,478,660 | 304,042,737,981 |
| Other Assets: | ||
| Property, plant and equipment | 433,365,273 | 504,778,177 |
| Intangible assets | - | 90,188,217 |
| Assets under construction | 128,016,172 | 39,978,685 |
| Inventory | 45,257,906 | 31,246,635 |
| Staff Mortgage Scheme | 1,304,830,014 | 1,281,238,196 |
| Staff Loans | 158,331,610 | 173,452,400 |
| Receivables and Prepayments | 8,191,311,181 | 6,580,672,946 |
| Cash and bank balances | 2,200,390,732 | 1,197,423,167 |
| Total Other Assets | 12,461,502,887 | 9,898,978,422 |
| Total Assets | 402,173,981,547 | 313,941,716,403 |
| Represented By | ||
| Payables and accruals | 2,027,774,170 | 1,819,884,806 |
| Total Liabilities | 2,027,774,170 | 1,819,884,806 |
| Member Liabilities | ||
| Unallocated members' funds | 3,144,845,013 | - |
| Accumulated members' funds | 353,693,475,456 | 312,121,831,596 |
| Member reserve accounts | 43,307,886,909 | - |
| Total Member Liabilities | 400,146,207,377 | 312,121,831,596 |
| FUND BALANCE | 402,173,981,547 | 313,941,716,403 |
| 2024 KSh. | 2023 KSh. | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net increase in assets | 88,024,375,781 | 26,398,966,656 |
| Adjustments: | ||
| Foreign exchange losses | 1,023,451,512 | - |
| Fair value gain/(loss) on revaluation | (2,988,668,249) | 18,436,442,556 |
| Increase in provision for Pay in Lieu of Leave | 19,498,333 | - |
| Increase/(decrease) in provisions | (84,366,599) | 466,149,601 |
| Depreciation on property, plant and equipment | 217,985,926 | 218,029,304 |
| Amortization of intangible assets | 90,188,217 | 278,592,778 |
| Operating surplus/(deficit) before working capital changes | 86,302,464,921 | 45,798,180,894 |
| Changes in Working Capital: | ||
| Increase/(decrease) in TPS Loans | 157,126,779 | - |
| Decrease/(increase) in inventories | (14,011,271) | (18,386,069) |
| Increase/(decrease) in Staff Mortgage Scheme | (23,591,818) | - |
| Increase/(decrease) in Staff Loans | 15,120,790 | - |
| Decrease/(increase) in debtors & prepayments | (1,610,638,235) | 884,431,813 |
| Decrease/(increase) in accrued income | (3,362,379,517) | (850,490,140) |
| increase/(decrease) in payables and accruals | 207,889,364 | (1,772,627,400) |
| Net Changes in working capital | (4,630,483,909) | (1,757,071,795) |
| Net cash flows generated from operating activities | 81,671,981,012 | 44,041,109,099 |
| Cash Flows from Investing Activities | ||
| Placement/withdrawal of deposits with financial institutions | 2,854,969,579 | (4,865,871,200) |
| Purchase/ redemption of Treasury bills | 1,203,423,777 | 414,297,820 |
| Purchase/sale or redemption of Treasury bonds | (66,156,324,471) | (33,457,681,265) |
| Purchase/sale or redemption of Eurobonds | (8,803,947,549) | - |
| Redemption of corporate bonds | 18,598,267 | 10,853,463 |
| Purchase/sale of unquoted equities | (4,991,670,225) | (514,600,495) |
| Purchase/sale of quoted equities | (4,739,652,176) | (5,257,139,878) |
| Purchase, development/sale of land and buildings | 269,741,975 | 273,114,862 |
| Additions to property, plant and equipment | (111,294,975) | (283,038,526) |
| Purchase software | - | - |
| Additions to assets under construction | (95,033,455) | (25,775,191) |
| Decrease in TPS and other loans | (117,824,195) | (157,071,311) |
| Net cash flows from investing activities | (80,669,013,448) | (43,862,911,722) |
| Net increase/(decrease in cash and cash equivalents | 1,002,967,564 | 178,197,376 |
| Cash and cash equivalents as at 1 July | 1,197,423,167 | 1,019,225,791 |
| Cash and cash equivalents as at 30 June | 2,200,390,732 | 1,197,423,167 |
Everyone named
| Signed by 2 | D. KOROSS, CEO/Managing Trustee · D. K. NJERU, Chairman Board of Trustees |
|---|---|
| Bodies 2 | National Social Security Fund · Board of Trustees |
| Auditor | Auditor General |
| Document access location | NSSF Head Office |
| Place | Bishops Road |
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Corrections 0
- Corrected by
- No corrigendum in the issues we hold.
- Refers to
- No other notices.
Cite
Kenya Gazette Notice No. 3359 of 2025, Vol. CXXVII No. 53, 14 March 2025, p. 1165.Permalink funua.com/notices/2025/3359/.
About this data
- Source
- Official PDF of Vol. CXXVII No. 53, from Kenya Law
- Extracted by
- AI models
- Model audit
- An independent model agreed with 98 to 99% of compared values for land and succession notices, 97% overall. Agreement between models, not verified accuracy.
- Review flag
- None on this notice
Filed under: Public finance, 2025 · March 2025 · Vol. CXXVII No. 53