How to instil a more robust culture of retirement saving among Kenyans

BDRetirement

Put at least 20 percent to 30 percent of your gross earnings into savings. FILE PHOTO | SHUTTERSTOCK

Until recently, the monthly contribution towards the social security fund was subjected to a ceiling of Sh400. The benefits may have been modest, but insufficient for individuals who would have otherwise preferred a more comfortable retirement.

With the reviewed contribution rate there is potential for higher retirement returns. Employer-sponsored pension contributions invested in the diversified portfolio also offer the potential for growth.

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Note: The results are not exact but very close to the actual.