The COVID-19 pandemic is shaking and shaping up a new normal around the globe with challenges and innovations that we have never seen before coming to life. At one end of the curve, we have seen a lot of people being unemployed and struggling to pay for basic necessities like food, rent or mortgage. And […]
Hi there, this is a 25-year-old millennial writing to you about pensions and retirement. In a previous article, I took us through how the retirement benefits industry is doing in Kenya and sadly, the current situation of the retirement benefits industry in Kenya is puzzle. And like every puzzle, the pieces are supposed to be […]
MONEY is a word that resonates well with you (unless you are living under a cave). SAVING is a word that your parents, teachers or relatives always (probably) talk to you about. PENSION, RETIREMENT is a word that you probably don’t take seriously (or you do, if you are ready to retire). Hi there, this […]
From my previous article, it was noted that most Kenyans are not saving enough for retirement. In fact, we found out that on average a member of a retirement benefit scheme will only be able to replace 34.0% of their salary before retirement. This Income Replacement Ratio is way below the recommended range of between […]
In Kenya, the role of a retirement benefits scheme has changed from being a mere employment offering to being a crucial part of helping employees achieve their goal of financial independence. Over the past few years, the retirement benefits sector has grown at an exponential rate, with around K Shs 400 billion in assets in […]
“Keep distance – Stay Alive”. I read this statement as I was heading to the airport one morning, many moons before COVID took over our lives. Fortunately, I was in traffic (I was not driving and hence could not over speeding as my colleagues would claim is my normal). I was being driven and was […]
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