Post – Retirement Medical Fund This scheme, offered under defined contribution, defined benefit and hybrid fund arrangements, is designed to enable actively employed members to accumulate savings specifically for covering…
PROPOSED CHANGES TO PENSION PROVISIONS IN THE FINANCE BILL 2025 To sustain and strengthen ongoing pension reforms, the government of Kenya has proposed several strategic measures in the 2025 Finance…
Introduction An aging population poses a challenge to the sustainability of pension schemes. While this might not be a threat to the Kenyan population in the short term, the current…
The Path Forward In an era marked by growing awareness of environmental, social and governance (ESG) considerations, sustainability reporting has emerged as a crucial aspect for organisations, investors and stakeholders….
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.