What you need to know about saving for retirement

When is the right time to start saving towards my pension? The best time to start saving for your pension is now—the earlier, the better. Starting in your 20s maximizes compound growth, meaning even small contributions grow significantly over time. But if you’re older, begin as soon as you can—delaying further reduces your savings’ potential. Why should I save through a pension scheme? What are some of the tax benefits of saving through a registered pension plan? Can I save for retirement if I am not formally employed? How do I start saving towards my pension? Yes, you can save

September 10, 2025

CALL FOR ENTRIES: FIRE AWARD 2025

The Retirement Benefits Authority (RBA), in partnership with the Institute of Certified Public Accountants of Kenya (ICPAK), Capital Markets Authority (CMA), Nairobi Securities Exchange (NSE), and the Public Sector Accounting Standards Board (PSASB), is pleased to invite all Retirement Benefits Schemes to participate in the 2025 Financial Reporting Excellence (FiRe) Award. The FiRe Award recognizes and promotes excellence in financial reporting, sound governance practices, and environmental reporting. Participation is an excellent opportunity for Retirement Benefits Schemes to demonstrate transparency, accountability, and adherence to international standards in their financial reporting. Participants are requested to submit a soft copy of their Annual

September 3, 2025

Statistical Digest: Kenyan Pension Industry Shows Strong Growth and Resilience in 2024

Kenya’s pension sector demonstrated significant growth and resilience in 2024, with the total value of pension funds increasing substantially. According to the 2024 Statistical Digest, the industry is not only expanding in value but also in membership and strategic focus, reflecting a robust and evolving financial landscape. Key Financial Highlights The total value of pension funds surged to Ksh 2.23 trillion in December 2024, a notable increase from Ksh 1.84 trillion in 2023. This 17.5% growth is a direct result of strong investment performance and rising member contributions. The data shows that a few large schemes are leading this growth.

August 27, 2025

Notice to Retirement Benefits Schemes regarding the 2025 Consumer Protection Survey

Kenya’s retirement benefits sector has experienced notable growth in both membership and asset accumulation. As of December 2024, the sector’s total assets stood at Kshs. 2.25 trillion, with 4.457 million active members, according to the 2024 audited accounts. The number of registered retirement benefits schemes has also increased, with over 1,032 active schemes currently in operation. Given the critical role of the pensions industry in securing the financial well-being of its members and the significant value of assets under management, it is essential to ensure robust consumer protection measures are in place. However, several emerging issues have been identified that

May 22, 2025

Kenya’s Pension Industry soars: Assets Under Management Reach Ksh2.25trillion

Nairobi, Kenya – April 7, 2025 – Kenya’s pension industry has demonstrated remarkable growth, with total Assets Under Management (AUM) reaching a substantial Ksh. 2,255.3 billion by the end of December 2024. This represents a significant increase of Ksh. 276.5 billion, or 14% growth, compared to the Ksh. 1,978.8 billion reported in June 2024. Download the Industry Report. This impressive expansion was primarily fueled by robust investment income and increased member contributions. A key driver for the contribution growth was the ongoing implementation of the National Social Security Fund (NSSF) Act of 2013. The second phase of this implementation saw

April 7, 2025

RBA Seeks Public Views on Proposed Amendments to the Retirement Benefits Act and Regulations for FY 2024/2025

The Retirement Benefits Authority (RBA), after receiving proposals from stakeholders in the retirement benefits sector, has compiled proposed policy changes to the Retirement Benefits Act and regulations. In line with the Statutory Instruments Act No. 23 of 2013 on consultation before making statutory changes, the Authority wishes to invite comments from members of the public, particularly stakeholders in the retirement benefits sector, on the proposed policy changes during public participation forums in various towns as per the schedule below. Public Participation Schedule Town Venue Date Mombasa Voyager Beach Resort 24th March 2025 Nakuru Eagle Palace Hotel 24th March 2025 Kisumu

March 4, 2025

RBA Publishes List of Registered Service Providers in the Retirement Benefits Industry

The Retirement Benefits Authority (RBA) has published the latest list of registered service providers, ensuring transparency and compliance within the retirement benefits sector. The list, published in the Tuesday, March 4, 2025 MyGov issue includes Custodians, Fund Managers, Corporate Trustees, and Administrators, all of whom play a crucial role in managing retirement savings for members across various pension schemes. By maintaining an updated record of licensed service providers, RBA aims to safeguard retirement savings and promote a well-regulated industry. Members of the public, pension scheme trustees, and other stakeholders can now easily verify the credentials of industry players, enhancing trust

March 4, 2025

Study: How Interest Rates, Inflation, and Exchange Rates Impact Kenyan Pension Funds

Interest rates and inflation significantly and negatively influence the value of pension funds in Kenya, while exchange rates have a notable positive effect. This is the key finding of a new study investigating the determinants of growth within Kenya’s pension industry, a sector crucial for retiree income and contributing 13% to the nation’s GDP. Understanding the factors that drive pension fund growth is essential for ensuring the long-term financial security of retirees and the stability of the broader economy. This research delves into these determinants, aiming to identify and quantify their impact on pension fund value. The study specifically examines

February 6, 2025

Retirement in Kenya: Pensioner Survey 2024 reveals a Mixed Bag of Challenges and Hope

Retirement in Kenya presents a complex picture. While some retirees enjoy their hard-earned rest, many others grapple with inadequate pensions, the rising cost of living, and the weight of supporting dependents. These are the key findings of the 2024 Pensioner Survey conducted by the Authority, offering crucial insights into the realities of retirement and paving the way for much-needed policy adjustments. Conducted biennially since 2002, the Authority’s surveys track retiree well-being and inform strategies to strengthen the retirement benefits sector. This year’s study, the 9th in the series, focused on pension adequacy and sustainability, surveying 427 retirees from registered schemes

February 6, 2025

CALL FOR ENTRIES: FIRE AWARD 2025

The Retirement Benefits Authority (RBA), in partnership with the Institute of Certified Public Accountants of Kenya (ICPAK), Capital Markets Authority (CMA), Nairobi Securities Exchange (NSE), and the Public Sector Accounting Standards Board (PSASB), is pleased to invite all Retirement Benefits Schemes to participate in the 2025 Financial Reporting Excellence (FiRe) Award. The FiRe Award recognizes and promotes excellence in financial reporting, sound governance practices, and environmental reporting. Participation is an excellent opportunity for Retirement Benefits Schemes to demonstrate transparency, accountability, and adherence to international standards in their financial reporting. Participants are requested to submit a soft copy of their Annual

September 3, 2025

Statistical Digest: Kenyan Pension Industry Shows Strong Growth and Resilience in 2024

Kenya’s pension sector demonstrated significant growth and resilience in 2024, with the total value of pension funds increasing substantially. According to the 2024 Statistical Digest, the industry is not only expanding in value but also in membership and strategic focus, reflecting a robust and evolving financial landscape. Key Financial Highlights The total value of pension funds surged to Ksh 2.23 trillion in December 2024, a notable increase from Ksh 1.84 trillion in 2023. This 17.5% growth is a direct result of strong investment performance and rising member contributions. The data shows that a few large schemes are leading this growth.

August 27, 2025

Notice to Retirement Benefits Schemes regarding the 2025 Consumer Protection Survey

Kenya’s retirement benefits sector has experienced notable growth in both membership and asset accumulation. As of December 2024, the sector’s total assets stood at Kshs. 2.25 trillion, with 4.457 million active members, according to the 2024 audited accounts. The number of registered retirement benefits schemes has also increased, with over 1,032 active schemes currently in operation. Given the critical role of the pensions industry in securing the financial well-being of its members and the significant value of assets under management, it is essential to ensure robust consumer protection measures are in place. However, several emerging issues have been identified that

May 22, 2025

Kenya’s Pension Industry soars: Assets Under Management Reach Ksh2.25trillion

Nairobi, Kenya – April 7, 2025 – Kenya’s pension industry has demonstrated remarkable growth, with total Assets Under Management (AUM) reaching a substantial Ksh. 2,255.3 billion by the end of December 2024. This represents a significant increase of Ksh. 276.5 billion, or 14% growth, compared to the Ksh. 1,978.8 billion reported in June 2024. Download the Industry Report. This impressive expansion was primarily fueled by robust investment income and increased member contributions. A key driver for the contribution growth was the ongoing implementation of the National Social Security Fund (NSSF) Act of 2013. The second phase of this implementation saw

April 7, 2025

RBA Seeks Public Views on Proposed Amendments to the Retirement Benefits Act and Regulations for FY 2024/2025

The Retirement Benefits Authority (RBA), after receiving proposals from stakeholders in the retirement benefits sector, has compiled proposed policy changes to the Retirement Benefits Act and regulations. In line with the Statutory Instruments Act No. 23 of 2013 on consultation before making statutory changes, the Authority wishes to invite comments from members of the public, particularly stakeholders in the retirement benefits sector, on the proposed policy changes during public participation forums in various towns as per the schedule below. Public Participation Schedule Town Venue Date Mombasa Voyager Beach Resort 24th March 2025 Nakuru Eagle Palace Hotel 24th March 2025 Kisumu

March 4, 2025

RBA Publishes List of Registered Service Providers in the Retirement Benefits Industry

The Retirement Benefits Authority (RBA) has published the latest list of registered service providers, ensuring transparency and compliance within the retirement benefits sector. The list, published in the Tuesday, March 4, 2025 MyGov issue includes Custodians, Fund Managers, Corporate Trustees, and Administrators, all of whom play a crucial role in managing retirement savings for members across various pension schemes. By maintaining an updated record of licensed service providers, RBA aims to safeguard retirement savings and promote a well-regulated industry. Members of the public, pension scheme trustees, and other stakeholders can now easily verify the credentials of industry players, enhancing trust

March 4, 2025

CLOSING REMARKS BY MR. KENDAGOR, DIRECTOR OF THE BOARD OF THE RETIREMENT BENEFITS AUTHORIY ON 30TH AUGUST 2024 AT KICC NAIROBI

All Members of the RBA Board present, Chief Executive Officer of the Retirement Benefits Authority Esteemed Stakeholders, Distinguished Guests Members of the press, Ladies and Gentlemen: The Authority organized this inaugural convention under the theme “Embracing Open Conversations in Tackling the Retirement Benefits Sector Challenges“. The convention aimed to create a platform for stakeholders in Kenya’s retirement benefits sector to engage in meaningful discussions, address key issues facing the sector, and propose actionable policy solutions. Indeed, the convention has achieved much more beyond our expectation. We have received great insights as shared by presenters, panellists and the distinguished delegates. The

September 13, 2024

Speech by Hon Florence Bore, Cabinet Secretary for Labour and Social Protection, During Federation of Kenya Employers Annual General Meeting on 27 August 2023

August 3, 2023

CEO Statement during FKE AGM on 27 June 2023

August 3, 2023