RBA Kenya

RBA Kenya

2/11/2025, 7:52:51 AM

#PensionwatchKE:In the last financial year, Auditor General Nancy Gathungu revealed that payments amounting to Sh350 million were made to 2,950 deceased claimants, with a further Sh7.3 billion disbursed to pensioners and dependents with questionable identification details. The audit pointed out the system's records were incomplete and inaccurate regarding essential information like tax PINs, ID numbers and birth dates. https://www.the-star.co.ke/news/2025-02-10-tears-of-retirees-chasing-elusive-pension

RBA Kenya

2/11/2025, 7:51:59 AM

In 2019, the Retirement Benefits Authority(RBA) issued a circular titled Good Governance guidelines, in collaboration with the treasury. The regulation sought to address emerging challenges in trusteeship and governance within pension schemes in Kenya, focusing on modernizing these roles to ensure they meet current and future needs. https://www.businessdailyafrica.com/bd/lifestyle/personal-finance/pension-scheme-what-are-the-emerging-issues-in-trusteeship-4921290

RBA Kenya

2/11/2025, 6:22:52 AM

The Pensions Department at the National Treasury placed a notice in local dailies in December asking pensioners and their beneficiaries to register without fail. As part of the National Treasury’s commitment to innovation and excellence, the Pensioner Self-Registration Portal, now accessible on e-Citizen, will enhance efficiency and accessibility. https://www.the-star.co.ke/news/2025-02-10-fresh-registration-of-pensioners-to-improve-efficiency-treasury

RBA Kenya

2/11/2025, 7:51:24 AM

Youth aged 18 and above make up the bulk of pensioners’ dependants, revealing the extent of youth joblessness crisis in the country, a new survey by the Retirement Benefits Authority(RBA) shows. https://www.businessdailyafrica.com/bd/economy/pensioners-dependents-expose-the-burden-unemployed-youth-4921078