pension scheme Stories
Under the Bill, every MCA would contribute not less than 7.5 per cent of their pensionable earnings, while county governments would contribute not les...
The government’s acquisition is expected to provide the scheme with the much-needed financial flexibility to continue supporting its pensioners.
By January 31, 353,586 pensioners comprising 268,236 principal pensioners and 85,350 dependents were already part of the system.
The proposals suggest raising the monthly deductible pension contributions from Sh20,000 to Sh30,000.
In the last Financial Year 2023-2024, payments amounting to Sh350 million were made to 2,950 deceased pensioners.
The SRC argued that the proposed pension scheme was neither affordable nor fiscally sustainable.
RBA CEO called upon government agencies and non-state actors to intensify awareness campaigns and encourage individuals to save a portion of their ear...
