New NSSF rates online calculator
The NSSF ACT 2013 comes into effect from June 1st 2014.
There is a raise in NSSF contributions from a maximum of KShs 200 to the new rate of 6%. However, the act has allowed for a transitional period building up to the 6%.
For users of Wingubox ™ Payroll, these changes have been effected automatically for you. You may view the new formula by going to:
- On the main menu:
- “Payroll Settings”->”Formulas”->”Other Formulas”
- Select NSSF and view the new formula
You’ll notice it is possible to switch between the old NSSF rates and the new ones for purposes of processing pay slips pre-2014.
Below is a table guide that will demonstrate your transitional payments.
This table is based on NSSF act 2013 and Deloitte Kenya interpretation notes.
NSSF act (2013) Rates projected over the next 4 years
| 2015 | 2015 | 2016 | 2017 | |
| Lower Earnings Limit | 6,000.00 | 7,000.00 | 8,000.00 | 9,000.00 |
| Upper Earnings Limit | (50% of NAE)
|
(1 x NAE)
|
(2 x NAE)
|
(3 x NAE)
|
| Tier 1 Salary | ||||
| Tier 2 Salary | ||||
| Tier 1 contribution | ||||
| Tier 2 contribution | ||||
| Total contribution | ||||
| Effective contribution | ||||
Use our online paye calculator to view sample working for a full PAY SLIP.
