Ruto: Kenyans to Contribute Three Percent of Their Salaries to Housing Fund
President Ruto has announced plans to enhance the Housing Fund to allow more Kenyans to own homes.
Ruto said the government wants all employers to contribute 3% of their income towards the Housing Fund to kick start their journey of owning a house.
Speaking at a church service at Friends Church (Quakers) in Donholm, Nairobi County, on Sunday, the president said the deductions will help low-income earners to take up the units offered by the affordable housing programme.
“Every employee who contributes three percent, their employer will also contribute three percent to the Housing kitty,” he explained.
Without mentioning when the deductions will take effect, Ruto indicated that the government will be the first to implement the Housing Fund plan for over 700,000 civil servants.
"As a government, we will be at the forefront in implementing this. For all employees of the government - approximately 700,000 - we will be saving 3 percent for them after they have made their own 3 percent contribution," he added.
Ruto assured Kenyans that the government will increase the number of affordable housing units to ensure they live in decent homes.
"In the next two weeks, I will be in Makongeni to start construction of an extra 30,000 units. We have a plan to be constructing 100,000 affordable houses every year in Nairobi," he said.
Ruto praised the government’s move to increase members’ contributions to the National Social Security Fund (NSSF) to 6% of their salaries, saying it has helped the country increase its savings. This, he said, will help the country to manage its foreign debt by borrowing locally.
“In just two months we have doubled the amount of money that we are saving as a country. I want to promise you that we will create a big kitty that we will not have to borrow externally," he said.
Comments (10)
This another very slippery slope when the government feels the need to be involved with EVERY portion of workers lives.They're coming for wanjikus money, and most are too naive to see it. But fear not, wheelbarrow hustlers, these politicians money is all safely offshore and easily accessible when they want to build a new mansion in their village.This is the white elephant's nose under the tent.The more fingers the government has in your income, the closer they get to enriching themselves.Not everyone can afford to have 3% of their income automatically taken out even if it is for housing purchase.
Nothing wrong with him trying to get the homes. This is great. Most civil servants end up have nothing when they retire. Let him help them. Stop being negative.
Which salary are you talking about when most of is haven’t been paid by your govt for the last 5 months? Give me the 3% that you ‘don’t have’ so I can feed my starving children and pay 3 months rent arrears. Shame on you Ruto, overpromising and not delivering. Liar Liar Liar!!! Karma is a bitch ata kama wewe kichana ya nyumbani.
Let those that: 1. Voted for You 2. Took your HUSTLER Funds (contribute the 3%). Mkora sugu Kweli-kweli.😨
Read like a 401K plan. Great, but will need legislation.
I am a Kenyan but will not contribute anything.
they cannot buy maize meal. where are they going to get the money from
so 6% for NSSF, 3% for Housing, 3% hustler fund, 12%VAT...... okay..
Not to mention taxes they actually pay, land rates and of course the inevitable bribe to some government functionary. Being a taxpayer in Kenya seems like a total ripoff. Uncle Sam looks like a bargain at this rate.
Ruto I will contribute over your dead body! Stop the nonsense!