No Plans End Sacco Deductions from Teachers’ Salaries, TSC Affirms.
The Teachers Service Commission (TSC) has dismissed as fake reports circulating online, claiming the commission plans to stop direct Sacco deductions from teachers’ salaries starting February 2025.
The commission clarified this on its official X account on Tuesday, cautioning teachers to beware of false information.
The fraudulent announcement alleged that TSC intended to simplify payroll processes and grant teachers greater control over their finances.
According to the fake notice, teachers would be required to manage their Sacco payments independently using modern payment methods such as mobile money and online banking.
The authors of the fabricated communication described the purported changes as transformative.
Role of Saccos in Teachers’ Financial Stability
Savings and Credit Cooperative Organisations (Saccos) play a critical role in fostering financial empowerment and stability among various professional groups, including teachers.
These organizations provide essential financial services, such as access to loans at favorable interest rates, to their members nationwide.
Kenyan teachers have access to numerous Saccos, such as Mwalimu National Sacco and Elimu Sacco Society. Typically, monthly member contributions to these Saccos are deducted directly from teachers’ salaries by the TSC, ensuring convenience and reliability in remittances.
While individual Saccos manage their finances independently, the Kenya Teachers’ Saccos Association (KETSA) was established in 2007 under Cap 108 of the Laws of Kenya.
KETSA addresses operational challenges faced by primary member Saccos and serves as a platform for collaboration and shared learning.
KETSA is governed by a board of directors composed of representatives from the executive boards of member Saccos.
The CEOs of these Saccos form the technical team, while the executive boards constitute the KETSA delegates’ forum.
According to its policy statement, KETSA’s primary objective is to advocate for the interests and challenges affecting member Saccos in their daily business operations.
This ensures that Saccos remain effective in providing financial services to their members.
Conclusion
TSC’s swift response to the fake reports highlights the importance of verifying information from official sources. Teachers are advised to rely on credible channels for updates to avoid falling victim to misinformation.
No Plans End Sacco Deductions from Teachers’ Salaries, TSC Affirms.
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