What we must do to expand pension coverage in Kenya

The government failed to remit Sh219.9 million in its share of contributions to the Public Service Superannuation Fund (PSSF).

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Significant progress in the pension sector has been made in the past two decades and we continue to see growth every year. According to the Retirement Benefits Authority, Kenya’s Pension Assets stood at Sh1.7 trillion by the end of June 2023. This marked an 8.1 percent growth compared to Sh1.5 trillion the previous year.

However, as a country, we still have certain challenges to overcome to ensure the financial security of the entire population during their retirement years.

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Note: The results are not exact but very close to the actual.