Kenya’s retirement benefits sector has grown remarkably over the past decade, from Sh789 billion in 2014 to Sh2.23 trillion in 2024, according to the Retirement Benefits Authority. This represents a 17.5 per cent increase, driven by consistent member contributions and prudent investment performance.
Between 2021 and 2024 alone, pension assets grew by 41 percent, from Sh1.58 trillion to Sh2.23 trillion. Occupational schemes hold nearly two-thirds of the total, while umbrella and individual schemes continue to attract new savers as more Kenyans embrace the importance of planning for retirement.
