Pension,pension non-remittance Stories
Mbadi decried the persistent non-remittance of pension dues by counties, terming it a significant challenge to the viability of public pension systems...
They are requesting the court to issue a Conservatory Order and/or Interim Injunction restraining the Respondents, whether by themselves or through th...
Retirees will benefit significantly as all gratuity payments, whether in public or private pension schemes, will now be fully tax-exempt, ensuring dig...
The group is seeking clarity on how salaries are set and whether they are based on legal and economic considerations.
The rise in assets under management to a record high was primarily driven by increased compulsory contributions to the NSSF in line with the ongoing i...
The SRC has awarded all 416 MPs and senators a fixed mileage allowance of Sh366,011 per month, amounting to Sh152.26 million monthly or Sh1.82 billion...
The Kenya Environmental Health and Public Health Practitioners Union said the government is prioritising lawmakers' benefits over urgent healthcare ne...
It proposes that the Public Service ministry take charge of an information system designed to eliminate ghost workers and streamline the payroll.
The restriction, which was initially imposed on December 11, 2024, was placed as a precautionary measure to allow for thorough investigations into the...
A recent RBA survey highlighted the hardships facing retirees, with 57 per cent of pensioners stating that their savings were inadequate to sustain th...
Despite their limited income, many retirees remain financially responsible for their families. The survey found that 83.2 per cent of pensioners still...
Workers below 50 years will no longer be allowed to withdraw pension savings when switching jobs.
Despite the Treasury forming a task force last year to address the growing pension arrears, the debt continues to rise.
The committee was shocked to learn that for 15 years, the university deducted employee contributions but failed to remit both employee and employer co...
The Auditor-General also questioned why the idle funds were not invested in interest-earning accounts, estimating a missed opportunity to earn Sh21 mi...
This financial crisis is causing deep concern among employees, many of whom face the prospect of retiring without the pension benefits they have worke...
The government’s acquisition is expected to provide the scheme with the much-needed financial flexibility to continue supporting its pensioners.
Public institutions are responsible for Sh54.4 billion of the unremitted funds, while Sh2.4 billion is owed by private sector entities.
By January 31, 353,586 pensioners comprising 268,236 principal pensioners and 85,350 dependents were already part of the system.
The commission has directed the Pensions Department to process all pending claims within 60 days and submit a compliance report.
Despite the increase in payouts, the pension budget still falls short of its target by Sh28.74 billion, or 25.75 per cent.
PS Kiptoo revealed that the country holds approximately Sh2 trillion in pension assets, yet only 26 per cent of Kenyans benefit from pensions.
The survey, published in December 2024, found that nearly half of insurance customers (44.1 per cent) skipped premium payments.
National Treasury Principal Secretary Chris Kiptoo stated that the February deadline is non-negotiable.
The reform includes a substantial increase in the monthly deductible pension contribution limit, which has been raised from Sh20,000 to Sh30,000.
As of September 30, 2024, pension payments for ordinary and commuted pensions had reached Sh58.57 billion, but only Sh24.23 billion was covered by exc...
State agencies in the Ministry of Roads and Transport are the largest contributors to the pending bills crisis, with debts totalling Sh173.7 billion.
The CoB's report reveals that unremitted PAYE alone rose by Sh3.85 billion, bringing the total outstanding amount to Sh22.89 billion.
The diversion of funds has left many retirees, some of whom have passed away, without the financial support they worked hard to secure during their em...
In Kenya, employers who delay sending pension money are fined Sh20,000 or five per cent of the unpaid amount every month.
