Gender dimension in the attitudes of formal sector workers towards saving for retirement with the national social security fund (NSSF) Kenya

Abstract

The purpose of this study was to examine the attitudes of formal sector workers’ towards saving with NSSF, and whether this has a gender dimension. The study was guided by the following objectives: to describe the attitudes of formal sector workers’ towards saving with the NSSF; to establish factors that influence formal sector workers’ attitudes towards saving with NSSF; and to determine whether there are any gender-driven attitudes among formal sector workers’ towards saving with NSSF. The study population consisted of employees from Ministries and organizations housed at the Social Security House, Nairobi, who contribute to NSSF as a statutory requirement. The researcher used stratified sampling techniques to stratify the gender of the participant in order to highlight whether there exists a gender dimension in workers’’ attitudes towards saving with NSSF. Survey questionnaires, key informant interview guides and focus group discussion guides were used to collect the data. The Statistical Package for the Social Sciences (SPSS) was used to analyse the quantitative data while Ms-Excel was used to analyse the qualitative data. The study findings suggest that the dissatisfaction of workers on services rendered by the Fund were in the areas of benefits claims payments and survivor benefit claims payments. Also payment of interests to members’ accounts was shown to be a major cause of the negative attitudes that workers have towards saving for retirement with NSSF. In addition, lack of proper communication by the NSSF on members’ funds and how interest is credited to members’ accounts was cited as a major area of concern. The study finding indicate that members’ attitudes influence how they save for retirement with NSSF. Also factors such as access to information, familiarity and awarenss of services offered by the Fund, perception of services offered by the Fund to contributors, education and financial obligation, do influence how members save for retirement with the NSSF. However, the study found that gender did not influence workers’ attitude to how members save for retirement with NSSF. Based on the s of the study, the researcher recommends that NSSF educate and sensitize contributors on benefit of saving for retirement with NSSF. Based on the conclusions of the study, the researcher recommends that NSSF educate and sensitize contributors on benefit of saving for retirement with the Fund. The Fund should also improve on service delivery to its customers.