State raises the bar for next NSSF boss, sets term cap

The government has raised qualifications for future managing trustees of the National Social Security Fund and capped the term limit to six years.

The NSSF 2013 Bill that is set for debate in Parliament when the National Assembly resumes from recess next month says the fund will only hire individuals with a Masters degree in a relevant field as managing trustee.

The occupant of the top job will serve for a maximum two three- year terms, ending the board’s discretion in determining tenures of the executives.

Prospective applicants will also require at least 10 years of work experience at managerial level in pension funds, banking and investment, among other areas.

This is the first time the government has sought to enshrine the minimum qualifications of NSSF managing trustees in law.

Currently, qualifications of the office holder are left to the discretion of the fund’s board.

“A person is not qualified for appointment under this section unless that person holds a Masters degree in a relevant field of study as may be specified by the board from a university recognised in Kenya,” reads part of the Bill.

The move to entrench NSSF managing trustees’ qualifications in law comes weeks after the July 22 sacking of Tom Odongo who is the latest to vacate the volatile office after less than a year.

Mr Odongo — who has an MBA from University of Nairobi, has been replaced by Hope Mwashumbe in an acting capacity.

He becomes the sixth chief executive of the Sh126 billion fund to exit in a period of five years, a move that could further shake public confidence and discourage top talent for going for the job.

The job has been entangled in politics with its occupants being axed after falling out with the minister heading the Labour docket.

Labour secretary Kazungu Kambi in an affidavit filed at Industrial Court accused Mr Odongo of five counts with three bordering on an interview Mr Odongo had with the Business Daily where he was blamed for sharing the fund’s investment plan before getting Cabinet approval.

Mr Odongo moved to court seeking reinstatement on grounds that Mr Kambi’s decision was arbitrary and did not involve the board of trustees to whom he was answerable as chief executive.

But the board of trustees earlier told the court that it had no problem with Mr Kambi’s move to fire Mr Odongo even as the court dismissed the bid by the Labour minister to have the case struck out.

Mr Odongo had held the position for barely eight months following his confirmation last November after holding it in an acting capacity for 10 months.

He took over from Alex Kazongo, who was fired in February last year after two years in charge.

Among other former occupants of the hot seat are Rachel Lumbasyo, James Akoya and Albert Odero.

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