RETIREMENT BENEFITS

Pensioners living abroad to be counted from July 1

This is as government continues with the cleaning the retirees' payroll register

In Summary

• Retirement schemes have remained relatively low with less than 50 per cent of the formal sector covered and coverage of the much larger informal sector virtually non-existent

•Latest data from the pension office shows that at least 138,194 pensioners have so far been reviewed by the government in the cleansing drive.

EDUCATION: The Retirement Benefits Authority organises annual open days to the public about pension schemes.Photo/File
EDUCATION: The Retirement Benefits Authority organises annual open days to the public about pension schemes.Photo/File

Pension register for Kenyans who live abroad will be reviewed in the coming financial year, pension secretary Shem Nyakutu revealed.

This is as government continues with the cleaning the retirees' payroll register, an exercise set to end next month.

To be counted, dependants require their National Identification cards or passports, Birth certificates of deceased pensioner's children and death certificates of deceased pensioners.

According to the pensioner’s office, it is not yet clear if the retirees will be counted from their countries of residence or will be required to travel back to Kenya.

George Muinde, a Kenyan living abroad, expressed fear that Kenyans in diaspora could lose their pensions when the counting period closes.

Speaking to the Star, Nyakutu said the headcount is mandatory for all government pensioners, dependants and guardians in receipt of monthly pension.

Retirement schemes have remained relatively low with less than 50 per cent of the formal sector covered and coverage of the much larger informal sector virtually non-existent.

According to pension solutions provider Zamara CEO Sundeep Raichura, most Kenyans are not able to maintain their standard of living after retirement.

This is because their savings under retirement schemes have insufficient coverage to provide adequate income when they retire.

Latest data from the pension office shows that at least 138,194 pensioners have so far been reviewed by the government in the cleansing drive.

The exercise is still ongoing in the North Eastern region and Nairobi and it's being conducted for 10 days in each of the regions, or former provinces, except in Nairobi where it’s running throughout until May 8.