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Why defined contribution schemes are future of retirement planning
Kenya is drawing on lessons from other jurisdictions when implementing these reforms, aiming to alleviate poverty in old age and ensure a smooth transition from active service into retirement.
In a world grappling with an ageing population and economic uncertainty, defined contribution pension schemes have emerged as the preferred approach to retirement planning.
The pensions industry has traditionally been based on two pillars: defined benefit and defined contribution plans. These are geared towards alleviating poverty in old age and ensuring a consistent standard of living throughout an individual’s lifetime.
