National Social Security Fund

Overview

The National Social Security Fund (NSSF) was established by the National Social Security Fund Act [Cap 50, R.E 2023]. The Fund is mandated to cover members engaged in the private and self-employed sectors.

Core Functions

Registration of members,

Collection of contributions,

Investing of the collected contributions

Payment of benefits to members

Coverage

According to Section 6 of the NSSF Act, the following categories of employers and employees are registrable by the Fund. These categories include the following;

• Private Sector which includes: -
• Companies
• Non-governmental organisations
• Religious organisations

(b) Employees employed in International organizations operating in Mainland Tanzania

(c) Foreigners employed in Mainland Tanzania.

(d) Self-employed.

(e) Any other category of persons specified by the Minister

Contributions

The contribution payable by the employer is twenty per centum (20%) of the employee’s monthly wages

• Employee contribute 10%
• Employer contribute 10%
• Employer may opt to contribute at grater rate

Investment

The Fund investment activities are conducted in accordance of Fund’s Investment Policy guided by BOT guidelines/Principles and The Ministry responsible for Social Security Sector.

Benefits

The Fund provides seven benefits which are categorized as long-term benefits and short-term benefits as follows

Long Term Benefits

Retirement Pension

Invalidity Pension

Survivor's Pension

Short Term Benefits

Funeral Grant

Maternity Benefit

Unemployment Benefit

Health Insurance Benefit

Pension is a term which expresses all long-term benefits offered by the Fund. It defines periodical payments given to a retired member, invalid persons and survivors of the deceased member to replace the loss of income resulting from old age, disability or death.