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Worker’s must contribute to mortage

 Worker’s must contribute to  mortage

 

In response to criticism of the program, President William Ruto emphasized that all employees must contribute to the Housing Fund, rejecting their worries and pointing out that even those who own homes or pay mortgages must make contributions to assist low-income earners in purchasing homes.

Additionally, he accused workers’ representatives of acting in the best interests of businesses by criticizing them for opposing the necessary 3% charge from employees’ pay and a matching contribution from their employers, which is capped at Sh5,000 per month.

 

The National Housing Development Fund, which intends to give low-income Kenyans the chance to own a property, was also referred to by the President as a “hustler’s mortgage” and whipped MPs into passing the idea.

Each and every MCA and MP has a mortgage; let’s now arrange the hustler’s mortgage and include it in the housing fund. President Ruto stated, “We want to pool all of our resources so that we can create a chance for common people to also have a chance to get a mortgage.”

 Worker’s must contribute to  mortage

He made these remarks while presiding over the groundbreaking ceremony for the Lapfund Bellevue Park Residence Project in Nairobi, which would include the construction of 2,350 affordable housing units.

 

He urged the workers to have their bosses pay into the fund by explaining to them how it will benefit them at the expense of their employers.

 

“If you as an employee contribute Sh1,000, your employer will also contribute Sh1,000, giving you a total of Sh2,000. So, even before you begin, you are already doubling your money by insisting that your company pay to the cost of buying a house that you will call your own, according to Dr. Ruto.

If the levy is approved, it will be mandatory for all employees and employers. The President criticized workers’ representatives who have opposed it, asking, “Are you a workers’ representative and you don’t give workers the opportunity to own a house and get contributions to buy their houses (from their employers)? Are you representing the interests of the workers or the interests of the employers?”

 

Mortgage contribution

 

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