Retired civil servants suffer Sh2.1bn bond paper losses

Retired civil servants queue at Huduma Center in Kisumu for a headcount exercise.

Photo credit: File | Nation Media Group

The Public Service Superannuation Fund (PSSF) realised Sh2.1 billion in paper losses across two financial years to June 2023 from the revaluation of its holdings in government securities.

The revaluation losses are due to falling bond prices in the past year amid a rise in interest rates on Treasuries in both the primary and secondary market, warranting devaluation in the carrying value of the securities.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.