pension uptake kenya Stories

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

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 Retirement Benefits Authority says seven out of 10 Kenyans in the labour market are likely to live in poverty after retirement.