March 2026
03Mar

Is Kenya ready for Financial Services Regulators Consolidation

Kenya’s financial sector has evolved far beyond the regulatory architecture originally designed to supervise it. What was once a neatly segmented ecosystem where banks are regulated by the Central Bank of Kenya (CBK), capital markets by the Capital Markets Authority (CMA), insurance by the Insurance Regulatory Authority (IRA), retirement benefits by the Retirement Benefits Authority (RBA), and deposit-taking Saccos by the Sacco Societies Regulatory Authority (SASRA), has transformed into an interconnected web of financial conglomerates offering multiple products across sectors...

March 3, 2026
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February 2026
17Feb

Kenya. RBA Cracks Down on KSh72bn in Unpaid Pension Contributions with Stricter Penalties

The Retirement Benefits Authority (RBA) has launched a tough new drive to recover more than KSh72 billion in unpaid pension contributions, introducing stricter penalties and enforcement measures aimed at institutions that have deducted retirement deductions from workers’ pay but failed to remit them to pension schemes. The crackdown responds to a sharp increase in unremitted pension contributions, a problem that has eroded confidence in Kenya’s retirement benefits system and left millions of contributors at risk. RBA data show that...

February 17, 2026
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December 2025
04Dec

Most Kenyans think their expenses will decrease in retirement. Is this true?

A new survey on retirement expectations shows that most working Kenyans believe their expenses will reduce once they leave active employment. The findings, published in the Driving Innovation in the Pension Sector in Kenya report by ICEA Group and released on November 20, 2025, offer a glimpse into how the workforce is preparing—mentally and financially—for life after work. According to the report, 57 per cent of the respondents expect their spending to be lower in retirement than it is today. This...

December 4, 2025
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01Dec

Kenya. Steady rise of public sector pension schemes laudable

The significant increase in the number of people joining the public sector pension schemes is a major recognition of the vital role they play in securing retirees’ lives. The schemes provide financial security by guaranteeing a stable income in retirement. The membership increased from 368,795 in the year to June 2022, to 511,000 by June this year, a 38.6 per cent growth in four years. Besides individual benefits, pension schemes play a crucial role in the national economy by mobilising lifelong...

December 1, 2025
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November 2025
21Nov

Enhancing Efficiency of Pension Schemes through Effective Risk Governance: A Kenyan Perspective

 By Sylvester Willys Namagwa The efficiency of pension schemes in Kenya invites elevated interest owing to the increasing pension contribution amounts and the expectation that benefits paid out of these schemes would protect members from old age poverty. The study investigates the intervening effect of risk management on the relationship between corporate governance and the efficiency of pension schemes in Kenya. The study employs panel data consisting of 896 observations from 128 schemes in a sample period from 2015 to...

November 21, 2025
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21Nov

ICEA survey finds most Kenyan retirees struggle to survive on pensions

A recent nationwide survey by ICEA Lion has revealed that most retirees in Kenya are unable to rely solely on their pensions to meet everyday expenses. The findings, based on responses from 1,200 working and retired Kenyans, highlight the fragile financial state of the ageing population in a country where savings culture is weak and social security coverage remains limited. The "ICEA Retirement Preparedness Survey" shows that just about half of retirees feel their pension is enough to sustain them in...

November 21, 2025
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September 2025
19Sep

Kenya: Fraud scandal robs millions of healthcare, pensions

For decades, Kenya’s public pension and health insurance systems have promised workers security in retirement and protection during illness. But for many citizens, these promises have now turned into frustration and betrayal as the money they faithfully contributed has ended up in the pockets of fraudsters within the system. In 2024, a report by Auditor General Nancy Gathungu revealed more than 260 000 cases of fraudulent activities targeting pension schemes in Kenya. Between 2013 and 2020, over 67 billion Kenyan shillings ($515...

September 19, 2025
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August 2025
21Aug

Treasury Outlines Plan to Pay Retirement Benefits to Former Kenya Railways Staff

National Treasury Cabinet Secretary, John Mbadi, has revealed how the government plans to pay the retirement benefits owed to former Kenya Railways staff. Appearing before the Labour and Social Welfare Committee on Wednesday, August 20, Mbadi revealed that the government had a plan set in place to pay the money owed to the Kenya Railways Staff Retirement Benefit Scheme (KRSRBS). The CS claimed that the delayed payments had been caused by the fact that the scheme did not have any monetary...

August 21, 2025
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July 2025
31Jul

Kenya. Retirement: Strategic partnerships critical in growing pension savings

Retirement benefits accumulated by Kenyan workers over the years hit an estimated total of Sh2.3 trillion last year, equivalent to nearly 15 per cent of Kenya’s GDP, underscoring the importance of this critical sector. With the inflation always competing to erode workers' savings, retirement benefits service providers are under pressure to preserve their clients’ wealth. The industry’s assets under management have recorded a 10.7 per cent compounded annual growth rate in the past ten years, from Sh800 million in 2015. This...

July 31, 2025
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29Jul

Kenya. Why caution is need as pension funds step into PPP space

Infrastructure is increasingly being positioned as a strategic investment class for long-term institutional investors across the world. For pension funds, the allure is understandable as well-structured projects like roads, ports, and energy grids promise stable, long-term cash flows that align well with the long-term liabilities of the fund. However, while the promise of infrastructure is compelling, the reality, especially in emerging markets like Kenya, demands a cautious and informed approach. The Kenya National Highways Authority recently announced that it had received...

July 29, 2025
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