Who We Are
Our Mandate
Retirement Benefits Authority (RBA) is a regulatory body, under the National Treasury and Economic Planning, established under Retirement Benefits Act. The Retirement Benefits Act was enacted as to bring the retirement benefits industry under a harmonised legislation. The Act established RBA for the regulation, supervision and promotion of retirement benefits schemes, the development of the retirement benefits sector and for connected purposes.
Regulate and Supervise
the establishment and management of retirement benefits schemes.
Protect
the interests of members and sponsors of retirement benefits sector and approve trustees' remuneration approved by members during the annual general meeting after every three years.
Promote
the development of the retirement benefits sector
Advise
the Cabinet Secretary, National Treasury on the national policy to be followed with regard to retirement benefits industry
Implement
all government policies relating to the industry
Strategic Objectives
- To enhance customer experience by increasing the customer satisfaction index to 82% and the brand awareness and confidence index to 60% by 2029
- To strengthen institutional capacity and development by increasing the employee satisfaction index to 75% and increase productivity by 5% by 2029
- To enhance financial resource mobilization by 25% by 2025 and fully absorb those resources every year
- To enhance consumer protection by 8% by 2029
- To improve the retirement benefits sector compliance by reducing the overall risk score to 2.50 by 2029
- To promote saving for retirement by increasing the total pension assets to Kshs. 3.2 trillion and the pension coverage to 34% by 2029
Objective of the RBA
- Improve Access to Authority Services
- Improve Retirement Benefits Sector Governance
- Improve Customer Experience
- Enhance Confidence in the Retirement Benefits Sector
- Enhance Retirement Benefits Sector Contribution to the Big 4 Agenda
- Increase Pension Coverage to the informal sector workers
- Increase Pension Coverage to the informal sector workers
Retirement Benefits Authority Business Continuity Policy Objectives
- To obtain certification to ISO 22301:2019 by August 2023.
- Increase overall BCMS competence by undertaking ISO 22301 Auditors Training for the Business Continuity Champions.
- To ensure identified Recovery Time Objectives are achieved as per the Business Impact Analysis.
- To maintain a 99% uptime of systems by employing effective disaster recovery systems.
- Ensure continuous improvement of RBA BCMS
Retirement Benefits Authority BCMS Policy Statement
- The Retirement Benefits Authority is committed to implementing, maintaining and continually improving a Business Continuity Management System to protect against, reduce the likelihood of the occurrence of, prepare for, respond to and recover from disruptions when they arise.
- The Authority is committed to ensure continuity to all appropriate critical operations as defined by the BCMS scope document in order to protect people, assets and guarantee timely recovery of its critical operations in the case of a disruption so far as is reasonably practical.
- This is to ensure continued regulation, supervision, promotion and development of the retirement benefits sector in the event of a disruptive incident.
Overarching Goal
Increase total pension assets to Ksh3.2 trillion and raise pension coverage to 34% by 2029.
Our Vision
Dignity in retirement.
Our Mission
To promote saving for retirement by supervising and supporting the development of the retirement benefits sector.
Our Quality Policy:
“Proactively promoting savings for retirement in Kenya by safeguarding, supervising and facilitating the development of the retirement benefits sector through
- Commitment to Continued Excellence in Service Delivery;
- Upholding Professionalism, Integrity and Sensitivity to Stakeholder Interests;
- Operating a quality management system within the framework of ISO 9001:2015 Standard; and
- Continually improving on the effectiveness quality management system.”
Core Values
The Authority is committed to adhere to the following core values, for which the acronym FIAT has been adopted:
Fairness
We shall treat all stakeholders equitably by offering impartial and consistent service.
Integrity
We shall be honest and adhere to high moral principles and professional standards while delivering our services.
Agility
We shall adapt quickly and diligently to emerging trends and shifting stakeholder needs.
Team Spirit
We shall harness our internal capabilities to collectively serve our stakeholders.
