Pension administrator Zamara Group says it will next month unveil a product targeting Kenyans in the informal sector in a bid to cover the segment that has seen most of workers retire into poverty due to lack of adequate social protection.
“Zamara is working on a solution for the critical population as we aim to ensure that every Kenyan gets some form of retirement savings in the next couple of years to secure their future,” said the firm’s chief operations officer Chris Nyokangi.
He said Zamara, which administers assets worth over Sh275 billion, will unveil a scheme that will put in place measures to ensure workers in the informal sector honour monthly pension contributions. “We will simplify the financial information to make it easy for the users to take up appropriate retirement benefit schemes,” he said yesterday during a two-day conference for the pensions industry held in Kisumu.
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