pension contributions Stories

A recent RBA survey highlighted the hardships facing retirees, with 57 per cent of pensioners stating that their savings were inadequate to sustain th...

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.

In Kenya, employers who delay sending pension money are fined Sh20,000 or five per cent of the unpaid amount every month.

According to Mbadi, the team will develop a strategy that allows county governments to clear outstanding pension liabilities.

The proposals suggest raising the monthly deductible pension contributions from Sh20,000 to Sh30,000.

Unremitted employer pension contributions have emerged as the second-largest pending bill for parastatals.