Pension schemes should be mandatory for private sector

Decades of low savings rates, lack of adequate disposable income and competing financial priorities have left nearly 80 percent of Kenyans uncertain about their financial future.

Alarming data from Treasury shows that Kenya’s public sector pension debt has tripled in the last five years from Sh8.9 billion in 2013 to Sh27.8 billion, bringing the government’s total expenditure on pension in the fiscal year starting July 2019 to Sh86 billion.