The National Social Security Fund (NSSF) of Tanzania is a compulsory social security services scheme for members from the private and informal sectors.
Its core functions include 1) Registration of members, 2) Collection of contributions, 3) Investing collected contributions, and 4) Paying benefits to members.
NSSF Categories of Employers and Employees
NSSF is available to the following categories of employers and employees:
a) Private Sector which includes:
- Non-governmental organizations
- Religious organizations
b) Employees employed in International organizations operating in Mainland Tanzania
c) Foreigners employed in Mainland Tanzania.
e) Any other category of persons specified by the Minister
The Fund provides seven benefits which are categorized as long-term benefits and short-term benefits as follows
Long Term Benefits
Short Term Benefits
Health Insurance Benefit
Contributions to NSSF
The contribution payable by the employer is twenty per centum (20%) of the employee’s monthly wages
- Employees contribute 10%
- Employers contribute 10%
- Employers may opt to contribute at a greater rate
All funds collected by the NSSF are wholly invested for the purpose of financing benefit payments.
The Fund investment activities are conducted in accordance with the Bank of Tanzania (BOT) Social Security Schemes Investment Guidelines, 2021 and the Ministry responsible for the Social Security Sector.
NSSF has significantly invested in various sectors, including real estate, industrial, agriculture, and commercial enterprises. Some of the main investment projects initiated by NSSF include:
1. Kigamboni New City: The City is planned to be a comprehensive, self-contained city on the outskirts of Dar es Salaam, designed to ease congestion in the city centre.
2. Dege Eco Village: The project involves the construction of a modern, eco-friendly housing estate that offers affordable housing options to Tanzanians.
3. Mtoni Kijichi Housing Project: This project involves the construction of affordable homes in Mtoni Kijichi, a suburb of Dar es Salaam.
4. Industrial Investments: NSSF has invested in various industrial enterprises, including textile mills, bottling companies, and other manufacturing plants, to stimulate Tanzania’s industrial growth.
5. Agricultural Investments: NSSF has invested in agricultural projects to bolster food security and create jobs in rural areas.
6. Commercial Investments: NSSF has a portfolio of commercial investments, including owning shares in various companies listed on the Dar es Salaam Stock Exchange (DSE).
7. Government Bonds and Securities: The NSSF also invests in Tanzanian government bonds and securities, contributing to the national economy while earning interest for its members.
The latest NSSF’s investment projects include:
8. Mtoni Kijichi House
9. Dungu Housing Project
10. The Nyerere Bridge, a 680-meter-long cable suspension bridge that connects the Dar es Salaam ward of Kurasini to the Kigamboni district across the Kurasini creek.