October 2018

01Oct

Kenyan campaigners urge enhanced protection for elderly persons

Kenya requires a radical policy shift in order to cushion senior citizens from abject poverty, homelessness, illiteracy, diseases and social exclusion, campaigners said on Sunday on the eve of the International Day of Older Persons. The elderly campaigners said that promoting the welfare of the ageing population through robust social safety net programs is key to realize socio-economic progress in Kenya. "Today in Kenya, older activists are campaigning for universal quality healthcare, improved access to social protection, more affordable and accessible...

October 1, 2018
News, Slider,
Read more...

September 2018

28Sep

Kenya. Pension schemes pool resources to fund infrastructure projects

Pension schemes under their newly-formed umbrella body, the Kenya Pension Fund Investment Consortium is eyeing big-ticket investment projects by pooling their resources. Zamara Group Chief Executive Officer Sundeep Raichura says that teaming up of local pensions funds will enable them invest in alternative investment asset classes including affordable housing, private equity, energy and infrastructure projects which would ordinarily be challenging if pension funds were to invest individually. The Kenya Pension Fund Investment Consortium is currently made up of 10 pension funds...

September 28, 2018
News, Slider,
Read more...

August 2018

29Aug

Theresa May In Africa: The Future Of Fintech In South Africa, Nigeria And Kenya

A delegation of UK fintech specialists joined Prime Minister Theresa May on her first official trip to Africa and will visit South Africa, Nigeria and Kenya to meet with entrepreneurs to establish trading and export ties in these emerging markets. Representatives from Azimo, the Financial Conduct Authority, Standard Chartered, Farm.ink, the London Stock Exchange Group and the Prime Minister’s Ambassador for Fintech were just some of the 29 leaders that accompanied May on the trip in order to forge connections...

August 29, 2018
News, Slider, , , ,
Read more...
20Aug

Pension cover in Kenya hits 20pc

Pension coverage among employed Kenyans has hit 20 per cent in the year to June 2017, going up from 16.7 per cent in 2015 on the back of recruitment of more Kenyan workers to retirement savings plans. Data from the Retirement Benefits Authority (RBA) shows that over 3.2 million Kenyans were covered under pension plans by June 2017, up from the 2.82 million Kenyan covered a year earlier. RBA chief executive Nzomo Mutuku attributed the growth of coverage to increased financial...

August 20, 2018
News, Slider
Read more...

July 2018

30Jul

Kenya. Land deal worsens Kenya Railways pensioners’ woes

As Kenya Railways pensioners’ woes deepen, officials of the former Kenya Railways Workers Association, the umbrella body for all the pensioners of the institution, have expressed fear that they risk losing 10 of their properties in a land swap deal in lieu of accrued land rates. They are reading a secret plot to defraud them of their properties. “The Nairobi County government and the sole corporate trustee, Corporate and Pension Trust Services Ltd, have hatched a scheme to possess 10 of...

July 30, 2018
News, Slider, , ,
Read more...
23Jul

Kenya. Counties owe Sh17bn in pension fund dues

County governments owe the County Pension Fund (CPF) more than Sh17 billion in unremitted contributions, the Nation has learnt. This emerged after the retirement fund expressed concern over delays in remittance of pension by the devolved units. Speaking at a Naivasha hotel on Saturday during an annual general meeting, CPF chief executive officer Hosea Kili said the anomaly was posing a major challenge to the operations of the umbrella savings scheme. Read more @Daily Nation

July 23, 2018
News, Slider
Read more...

January 2018

31Jan

Confidence in Retirement – How well are Kenyans prepared for retirement?

By Strathmore University The purpose of this study is to assess and evaluate the views and attitudes of working age Kenyans who are members of a registered workplace pension schemes. The study reveals the extent in which different factors influence individual’s level of optimism or pessimism about retirement as well as Kenyans actions to prepare for retirement. (more…)

January 31, 2018
Aging, Articles, Labor Market, Pension design, Slider-Left, , ,
Read more...

November 2017

29Nov

Kenya. Pensions raise stockholding as Nairobi bourse recovers

Pension schemes invested more in equities by cutting back on other investment classes in the third quarter as the stock markets rallied despite political intrigues. A survey of 372 schemes by consulting firm Zamara Group (formerly Alexander Forbes Financial Services EA) shows pension providers raised equity allocations to 23.9 per cent in the three months to September, up from 21.5 per cent in the previous quarter. It showed fixed income still had the largest share of investment by pension funds at...

November 29, 2017
News, Slider
Read more...
15Nov

Kenya. CMA plans study on Fintech platforms for adoption in sector

The Capital Markets Authority (CMA) is planning a study on financial technology (Fintech) innovations to help open up the sector for tech intermediaries. The proposed regulatory sandbox will allow Fintech start-ups to test and experiment innovations before they are approved as platforms of trade in the market. This is part of the CMA’s 10-year master plan seeking to promote innovations as a way of growing participants and volumes of trade in the capital markets. The baseline diagnostic survey, set for first...

November 15, 2017
News, Slider
Read more...

October 2017

27Oct

Kenya. Concern over county governments failure to remit employee pension

County governments have not remitted Sh30 billion to employees' pension and provident funds. According to CPF Financial Services Group, the administrators of both schemes, counties had not remitted Sh12 billion to the Local Authorities Provident Fund (LapFund) as at September 30 2017. The devolved units had also not remitted Sh18 billion to the Local Authorities Pensions Trust (Laptrust), according to an earlier report by CPF Group. “We had earlier revealed that county governments have not remitted Sh18 billion to Laptrust....

October 27, 2017
News, Slider
Read more...