Kenya. Pension sector’s next growth frontier is member engagement

The retirement benefits sector has quietly become a remarkable growth story in the country’s financial system. In under 30 years, it has morphed from a fragmented unregulated sector to managing Sh2.8 trillion in assets, equivalent to 14.5 percent of the gross domestic product. The first phase of the sector’s growth, marked through the enactment of the Retirement Benefits Act and the establishment of the Retirement Benefits Authority (RBA) in 2000, pivoted on regulation to supervise a sector that had operated...