pensions Stories

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.

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...

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.

Sponsored by Kimilili MP Didmus Barasa (Kimilili), the bill amends the Pensions Act to establish a clear timeline for pension disbursement and expedit...