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ARTICLE · 15 MAY 2019

The National Housing Development Fund

The Housing Fund Regulations, 2018 (the Regulations) were gazetted on Friday 21 December 2018 and require that:

KenyaFinance and Banking

Publication of the Housing Fund Regulations

The Housing Fund Regulations, 2018 (the Regulations) were gazetted on Friday 21 December 2018 and require that:

  1. every employer who employs one or more employees under a contract of service registers as a contributing employer with the National Housing Development Fund; and
  2. every employer registers his or her employees as members of the National Housing Development Fund.

It is an offence under the Regulations to fail to register or contribute to the Fund and, upon conviction, an offending party shall be liable to imprisonment for a term of two years or to a fine not exceeding KES 10,000 or both.

Contribution to the Fund

The Finance Act 2018 amended Section 31 of the Employment Act and introduced a mandatory obligation on an employer and an employee to contribute to the Fund, being:

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