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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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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