Principal Secretary of National Treasury, Chris Kiptoo(middle) with other stake holders during the launch. photo/Courtesy.
The national treasury, in collaboration with the Retirement Benefits Authority, has launched the national retirement benefit policy and the retirement benefits strategic plan 2024-2029.
The national retirement benefit policy is a comprehensive legal framework aimed at harmonizing coordinating and enhancing the retirement benefits sector.
The policy was approved on 30th November 2023 in alignment with Article 43(e) and Article 57 of the constitution. Which underscores the great commitment to enhancing social security and promoting the wellbeing of older members of the society, as it is their right.
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The key objectives of the policy include: increasing coverage of retirement benefits both for formal and informal sector, providing mechanism of good governance of the retirement benefits fund, provide retirement benefits including affordable housing and also post retirement medical benefits and old age care among many others.
In addition, the RBA 6th strategic plan 2024-2029 has been unveiled.
The purpose of this plan is to provide a blueprint for the authority to enhance efficient and effective pension services in adherence to the national retirement benefits policy.
“The launch of these two documents indicates the government’s commitment towards ensuring that every Kenyan citizen can retire with dignity, financial security, and peace of mind.” Principal Secretary of National Treasury, Chris Kiptoo stated.
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