It is with the humble acceptance of God’s will that the Retirement Benefits Authority (RBA) and the Family announce the death of our dedicated ICT Deputy Manager, Mr. James Otieno Ogonda, that occurred on Saturday 27th February 2021 at the Aga Khan Hospital – Kisumu after a short illness. James was son of the late Mzee Vitalis Ogonda Otamo and…
The Retirement Benefits Authority is pleased to invite the general public to give their views to enable us enrich our legislative framework. This is in line with the Statutory Instruments Act No. 23 of 2013 on consultation before making statutory changes. RBA wishes to invite comments from members of the public, particularly the stakeholders in the retirement benefits sector, on…
This is to bring to your attention that the Retirement Benefits Authority is now a partner in the Financial Reporting (FiRe) Award. Founded in 2002, the FiRe award is a joint initiative of the Institute of Certified Public Accountants of Kenya (ICPAK), the Capital Market Authority (CMA) Kenya, and the Nairobi Securities Exchange (NSE) and now the Retirement Benefits Authority…
Pursuant to the provisions of Sections 22 (3) and 29 (2) of the Retirement Benefits Act, the Authority would like to bring to the attention of the Retirement Benefits Industry, the list of the registered Administrators, Custodians and Managers as at 1st January 2021. The list can be downloaded from the link below: [wpdm_package id='4757']
Pursuant to Section 55(3) of the Retirement Benefits Act, the Retirement Benefits Authority has drafted The Retirement Benefits (Anti- Money Laundering and Combating Financing of Terrorism) Guidelines and hereby invites the members of the public and, more particularly, the stakeholders in the retirement benefits sector to submit their views on the Draft Guidelines and participate in public participation fora. The…
Anyone earning an income can join a pension scheme. The Retirement Benefits Authority register all individual pension schemes in Kenya. To join one just visit our website for the list of individual plans and join any that offers a product that suits your income. [Click here to view the list of IPPs]. Most individual pension plans now have flexible saving…
Members of retirement benefits schemes would soon start purchasing residential houses using part of their pension savings. This follows the gazettement of The Retirement Benefits (Mortgage Loans) (Amendment) Regulations 2020 vide Legal Notice 192 dated 14th September 2020. Pension schemes have 12 months to domesticate the regulations and guide their members on how to access the funds. According to the…
Following reports in a section of the press insinuating that saving for retirement through individual pension plans is more unsafe than in occupational pension schemes, the Retirement Benefits Authority wishes to clarify as follows: Both Occupational Pension Schemes and Individual Pension Schemes are regulated under the same law under the watch of the Retirement Benefits Authority whose key mandate is…
Section 38 of the RB Act was recently amended to allow members of retirement benefits schemes to utilize a proportion of their accrued benefits to purchase a residential house. Pursuant to Section 55 of the RB Act, the Authority will be proposing to the Cabinet Secretary amendments to the Retirement Benefits (Mortgage Loans) Regulations to operationalize the new provision. In…
The Retirement Benefits Authority wishes to bring to the attention of the pension industry, the Kenya Tax Laws (Amendment) Act 2020 that was assented by His Excellency President Uhuru Kenyatta on the 25th April 2020. The new Act, has amended Section 38 of the Retirement Benefits Act (1997) to allow partial access of retirement benefits for purposes of purchase of…
