The National Social Security Fund (NSSF) is set to convene its 7th Annual General Meeting (AGM) with members to explain, among other issues, the proposed use of members’ contributions in infrastructure-related investments.

According to a public notice issued by the fund, the AGM will be held virtually on Friday, April 25, 2025, through the Zoom platform, starting at 8:30 a.m. and ending at 1:00 p.m. The meeting will bring together NSSF members, trustees, fund managers, and custodians to deliberate on key matters affecting the management and future direction of the fund.

A major item on the agenda will be the presentation of audited financial statements for the year ended June 30, 2024. During the meeting, NSSF management is also expected to outline how members’ funds are being invested, including plans related to infrastructure projects.

These investments have attracted public interest, with many members seeking clarity on how their savings are being utilised and the expected returns.

The AGM will also feature the presentation of the Managing Trustee’s report and the Trustees’ report, offering an overview of the fund’s performance, governance and investment strategy over the past financial year. In addition, fund managers and custodians will make presentations to explain their roles in safeguarding and growing members’ contributions.

Members will have an opportunity to directly engage NSSF officials during a question-and-answer session, where concerns and suggestions can be raised. The meeting will conclude with an address by the chief guest and a vote of thanks.

NSSF has urged members to register in advance using the link provided in the notice to gain access to the virtual meeting. Members are also encouraged to submit questions and comments ahead of time via the official AGM email address.

Securitisation of NSSF

This comes amid securitisation talks around the use of NSSF funds to finance key infrastructure projects, one of them being the dualling of the Rironi–Mau Summit road, which has already commenced.

President William Ruto had earlier stated that the country is keen on reducing reliance on external borrowing and instead relying on domestic resources, with NSSF funds identified as one of the options to support major development projects.

“The money we have collected in the last 60 years with NSSF amounts to Ksh320 billion by December 2022. Since we embarked on the new model, by the end of this month, our savings will be at Ksh670 billion. By June 2027, we will have Ksh1 trillion,” Ruto said.