Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Why governance flexibility matters in the management of pension fund
Kenya’s pension sector today manages retirement assets approaching Ksh3 trillion, making it one of the country’s largest sources of long-term domestic capital.
The Supreme Court of Kenya’s decision declaring unconstitutional the application of the Public Procurement and Asset Disposal Act (PPADA) to pension schemes sponsored by public entities is one of the most consequential rulings for the retirement benefits sector in recent years.
At its core, the judgment settles a long-standing governance question the industry has had: Are pension assets public funds because the sponsoring employer is a public institution, or are they private trust assets belonging to scheme members? The court provided a definitive answer.
