CHOOSING THE MOST PREFERABLE PENSION PAYOUT METHOD

INTRODUCTION

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.

This article will look at the two main methods of pensions payment and review the legislative frameworks governing the methods. In addition, we will look at some of the considerations to make when choosing a payout method.

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