The National Social Security Fund (NSSF) Haba Haba savings scheme is designed to help Kenyans build a consistent saving culture while providing access to part of their contributions for short-term financial needs.
The platform operates through a digital savings wallet, allowing members to manage and monitor their contributions using the USSD code *254# or the NSSF Haba Haba digital wallet app.
Under the scheme, a member’s savings are divided into two portions. Thirty per cent is allocated to short-term savings, which can be accessed immediately through *254#, while the remaining 70 per cent is placed in long-term savings.
Members can access 50 per cent of their long-term savings after five years, while the remaining amount is preserved for future needs, including retirement.
NSSF Haba Haba also allows members to make voluntary contributions to boost their savings. Contributions can start from as little as Sh25 per day, Sh175 per week or Sh400 per month, giving members flexibility to save according to their financial capacity.
The platform uses a unitization model to apply interest to savings daily, enabling members to monitor the growth of their funds digitally.
Members do not require a smartphone to use the service. Those using basic mobile phones can access their accounts and services through *254#.
The account is linked to the member’s national ID rather than their phone number, meaning changing a phone number does not affect ownership of the savings account.
The scheme also provides for beneficiaries. A member can nominate up to three beneficiaries and assign each a percentage of the savings, provided the allocations total 100 per cent. Beneficiaries can be updated at any time, while a guardian option is available for minors or dependants.
If a member dies without nominating beneficiaries, the savings may be subjected to legal succession procedures, potentially delaying access by family members.
NSSF says members’ information is protected in line with the Kenya Data Protection Act, 2019, with personal data only shared with authorised service providers for legitimate purposes.
With its combination of flexible contributions, digital access and structured short- and long-term savings, Haba Haba is intended to encourage Kenyans to save consistently while securing funds for both immediate and future financial needs.
