July 2025
23Jul

Kenya. JSC urges Parliament to fast-track pensions Bill, says delay denying retired judges fair compensation

Judges have called on Parliament to fast-track the passage of a delayed pensions Bill that promises annual inflation-linked adjustments to their retirement benefits. The Judicial Service Commission (JSC) says the prolonged delay in enacting the Judges Retirement Bill, 2025, is denying retired judges fair compensation in line with rising living costs The Judiciary has now urged legislators to expedite the Bill, which seeks to establish a dedicated pension framework for judges of the superior courts, providing for annual pension adjustments pegged...

July 23, 2025
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18Jul

Study shows only one in four Kenyans save for retirement

A paltry 20 per cent of Kenyans save for retirement, a new study has revealed. The research by pension fund experts at Zamara Group reveals that over 60 per cent of retirees deplete their retirement savings within the first five years after leaving formal employment. Zamara Group chief executive Sundeep Raichura said most Kenyans are not saving enough to maintain their living standards in retirement. "In Kenya, the pension schemes are paid in lump-sum and people who are used to getting regular...

July 18, 2025
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03Jul

Tax-free pensions may spark a new era of savings for Kenya

The recently enacted Finance Bill 2025 has introduced sweeping changes to the country’s pension and tax framework that will effectively redefine retirement planning while offering much-needed relief to workers grappling with high inflation, constrained incomes, and economic uncertainty. At the heart of the law is a bold move; to make all pensions and gratuity payments, whether in the public or private sector, fully tax-exempt. This is a significant departure from the current regime, which taxes certain pension and insurance payouts,...

July 3, 2025
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June 2025
25Jun

Kenya. Treasury fails to release Sh30 billion in pension payments- CoB

The delays come as the government struggles with a growing pension payout backlog, with the Treasury now under pressure to release Sh57.24 billion in June alone, having paid out Sh165.9 billion between July 2024 and May 2025, out of the total annual pension budget of Sh223.1 billion. Ongoing delays and repeated system downtimes have left retirees in financial uncertainty, with the Controller of Budget revealing that the Treasury failed to allocate Sh30.14 billion in processed pension payments in the nine...

June 25, 2025
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May 2025
23May

Sustainability reporting on pension schemes the path forward

In an era marked by growing awareness of environmental, social and governance (ESG) considerations, sustainability reporting has emerged as a crucial aspect for organisations, investors and stakeholders. For pension schemes, particularly, integrating sustainability into their reporting frameworks is more than just a regulatory requirement; it’s an ethical imperative that aligns with the long-term nature of their commitments to retirees and the society. Read the complete book here

May 23, 2025
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21May

Kenya. Workers welcome state move to exempt pension and gratuity from tax

A section of Kenya Ports Authority (KPA) workers has lauded the government’s move to exempt pension and gratuity from taxes as outlined in the budget for Financial Year 2025/2026. To ensure senior citizens retire with dignity and not distress, the Head of State during the 60th Labour Day celebration announced that pensions and gratuity from the public and private sectors will be exempted from tax. Former Dock Workers Union Leader Paul Abisa described the government’s move to exempt pensions and gratuity from...

May 21, 2025
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16May

Seven out of 10 Kenyans struggle financially after retirement- CEO RBA

According to CEO Retirement Benefits Authority (RBA), Charles Mathira, seven out of 10 Kenyans are struggling after retirement because of lack of a savings plan to cushion them. Mathira noted that according to their statistics most Kenyans do not subscribe to any retirement benefits scheme and as of last year December, only 26% of workers had been saving for retirement and they are targeting it to reach 34% by 2029 through various sensitizations. In a speech read on his behalf by...

May 16, 2025
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April 2025
30Apr

Kenyan retirees win big as govt exempts pension from tax

How Kenyan retirees will benefit In a statement on Tuesday, April 29, the State House revealed the Cabinet had approved the bill that will benefit retirees in the public and private sectors. By removing pension taxes, the government intends to improve the financial stability of retirees, allowing them to enjoy their post-work years without worrying about additional tax deductions on their pension income. "Retirees will benefit significantly as all gratuity payments, whether in public or private pension schemes, will now be fully...

April 30, 2025
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08Apr

Kenyans’ pension contributions have almost doubled since 2022

Kenyans’ contributions towards pension schemes have nearly doubled since 2022, data from the Retirement Benefits Authority (RBA) shows. RBA records show pension contributions over the last three years have risen from Ksh.62.73 billion for the half year ending June 2022 to Ksh.118.80 billion for the half ending December 2024. For the six months ending in December 2022, pension contributions were Ksh.70.26 billion, then climbed to Ksh.83.14 billion in the half-year up to June 2023 and further to Ksh.105.65 in the second...

April 8, 2025
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February 2025
27Feb

Kenya. The transformative approaches for broader pension coverage

Kenya’s pension penetration rate, at 26 percent, is the third lowest in sub-Saharan Africa, trailing far behind countries such as South Africa, which boasts a 66 percent reach. This disparity underscores a major financial vulnerability for many Kenyans, particularly in the informal sector where pension schemes are either underutilised or deemed inconsequential. The rising cost of living and limited incomes have further constrained the ability of many to save, leaving a substantial portion of the population without a reliable safety net...

February 27, 2025
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