Why your Money in Retirement Benefits Schemes is Safe

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…

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Public Participation to the Retirement Benefits (Mortgage Loans) (Amendment) Regulations, 2020

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…

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Operationalization of the Revised Section 38 of the Retirement Benefits Act (1997) on Accessing Retirement Benefits For Purchase of Residential House

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…

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Exemption from Compliance

An exemption from compliance with section 34(4C) of the Retirement Benefits Act has been officially gazetted by the Cabinet Secretary for the National Treasury. The exemption will apply  for a period of 60 days with effect from the 1st April 2020. Please see the extract below for your reference. [wpdm_package id='4519']

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REMARKS BY NZOMO MUTUKU, MBS, CHIEF EXECUTIVE OFFICER, RETIREMENT BENEFITS AUTHORITY, DURING OCTAGON PENSION SERVICES’ UNVEILING OF A GLOBAL STRATEGIC BUSINESS PARTNERSHIP AT THE HOTEL INTERCONTINENTAL, NAIROBI, MARCH 3, 2020

Chairman and Board Members, Octagon Pension Services, Group CEO, Management and Staff, Octagon Pension Services, Representatives of Alexander Forbes Financial Services Distinguished Guests Ladies and Gentlemen, I’m glad to be here on this auspicious occasion marking one of our service providers’ entry into a global partnership. This is indeed a clear testament that a business that is focused and innovative…

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REMARKS BY MR. NZOMO MUTUKU, MBS, CHIEF EXECUTIVE OFFICER, RETIREMENT BENEFITS AUTHORITY, DURING THE EAVCA LAUNCH OF PE INVESTING GUIDE ON TUESDAY 15, OCTOBER 2019, NAIROBI

REMARKS BY MR. NZOMO MUTUKU, MBS, CHIEF EXECUTIVE OFFICER, RETIREMENT BENEFITS AUTHORITY, DURING THE EAVCA LAUNCH OF PE INVESTING GUIDE ON TUESDAY 15, OCTOBER 2019, NAIROBI Ladies and Gentlemen It is a great pleasure and honour to officiate the launch of the EAVCA PE Investing guide which is a vital informational tool particularly for pension sector. I am aware that…

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Minimising risks, key to growth in the pension sector- Financial Sector Stability Report reveals

Minimising risks, key to growth in the pension sector- Financial Sector Stability Report reveals By James Ratemo, jratemo@rba.go.ke Twitter: @JamesRatemo The pension sector was resilient in 2018 despite a number of risks, the latest Financial Sector Stability Report for Kenya reveals. The report, released on Thursday at the annual Joint Financial Sector Regulators Forum in Malindi, shows that pensions industry…

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Kenya appointed chair of interim Africa Pension Supervisors Forum

Kenya appointed chair of interim Africa Pension Supervisors Forum Kenya has been appointed to chair the newly created Africa Pension Supervisors Forum. Nigeria shall deputize Kenya with South Africa, Rwanda and Zambia being executive members. In effect, the Retirement Benefits Authority CEO Nzomo Mutuku shall chair the Interim Executive Committee of the Africa Pension Supervisors Forum encompassing CEOs of Pension…

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