INTRODUCTION Good governance in pension schemes is crucial to ensure that the retirement savings of individuals are managed effectively, transparently and securely. Kenya’s pension system has undergone significant reforms focused…
A STRATEGIC MOVE FOR FUTURE STABILITY AND SUSTAINABILITY Consolidation of pension schemes in Africa is becoming an increasinglyprominent strategy within the pension industry. In Kenya, schemes have beenconsolidated in to…
INSIGHTS ON RETIREMENT PLANNING Retirement is defined as the period when an individual withdraws from theirincome-generating activities, applicable to both formal and informal jobs. Whilemany workers in Kenya report that…
Different people envision their retirement era in many different ways. Some people view it as the time to travel, relax, spend time with loved ones, farming, focus on hobbies, etc. While many individuals have different perspectives on the retirement era, it is clear that there is a common base, financial stability. What can possibly go wrong?
Pensions uptake in the region has significantly increased over time. The Retirement Benefits Authority estimates the assets under management in Kenya to have increased from Ksh 1,576.22 bn in December 2022 to Ksh 1,703.69bn in June 2023 which represents an increment of 8.087% for the 6 months period. However, there still exists a big knowledge gap on the methods of pensions payout and alternatives that individuals can use.
Diversity, Equity and Inclusion (DEI) refers to the frameworks that seek to promote fair treatment and full participation of all people, especially groups which have been historically under-represented or subjected to unfair treatment on the basis of identity or disability. This article will look at how the industry has progressed and where it stands currently in matters ensuring Diversity, Equity and Inclusion in the country. It will also review the various reforms that have been made by the pensions stakeholders to improve Diversity, Equity and Inclusion in the pensions industry.
Diversity, Equity and Inclusion (DEI) refers to the frameworks that seek to promote fair treatment and full participation of all people, especially groups which have been historically under-represented or subjected to unfair treatment on the basis of identity or disability. This article will look at how the industry has progressed and where it stands currently in matters ensuring Diversity, Equity and Inclusion in the country. It will also review the various reforms that have been made by the pensions stakeholders to improve Diversity, Equity and Inclusion in the pensions industry.
A gig economy is an economic status characterized by temporary contracts and freelancing. The need to cut cost while retaining efficiency has pushed companies to hire independent contractors for part-time roles. In addition, technological advancements and internet access has provided a platform for many individuals to take up multiple part-time role in various organization. Some common examples of gig jobs include; online taxi business, online writing, freelancing online marketing and forex trading.
According to the Kenya National Bureau of Statistics (KNBS) 2022 demographic health survey, insurance cover among the elderly remains relatively low with less than a third of individuals above the age of 50 reporting to have any form of medical insurance. Additionally, there has been an increase in reported cases of chronic illnesses among the elderly in recent years. This has pushed individuals into utilizing their pension savings to finance their post-retirement medical expenses.
The issue of welfare for the aging population has been a major point of discussion since the genesis of the human race. Traditionally it was a communal responsibility to take care of the old. With the evolution of time, responsibility has evolved and new variables have emerged in the delegation of that responsibility. This article will look at;