Kenya’s biggest pension fund’s assets rise 13% to $2.14 billion

Bloomberg | Kenya’s National Social Security Fund’s net assets rose to Ksh221.7 billion (US$2.14 billion) in the 12 months through June 2018, compared with a restated Ksh196.6 billion (US$1.89 billion) a year earlier, the agency said.

Contributions into Kenya’s biggest pension fund grew to Ksh14 billion (US$135 million) from a restated Ksh13.5 billion (US$130 million) a year earlier, the National Social Security Fund (NSSF) said in a statement published in Nairobi-based Daily Nation newspaper. Trustees approved interest payment of 7 percent on the contributions, it said.

Investment income climbed almost 23 percent to Ksh17.3 billion (US$167 million), while it held Ksh89 billion (US$859 million) in government securities and Ksh65.4 billion (US$631 million) in publicly traded shares, it said.