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RBA petitioned over Kenya County Government Retirement Scheme Bill 2018

RBA petitioned over Kenya County Government Retirement Scheme Bill 2018

PRESS RELEASE

Nairobi, Kenya, June 13, 2018

Retirement Benefits Authority CEO, Mr. Nzomo Mutuku, today received a petition from Kenya County Governments Workers Union over the County Government Retirement Scheme Bill, 2018 which is currently in Parliament and aims to create a new pension scheme for county governments’ workers.

The union officials led by Fred Buluku and accompanied by several protesting workers, urged the Authority to intervene as they had a number of serious concerns with the Bill as currently drafted.

The CEO assured them that the Authority would review the issues raised in the memorandum in line with its advisory role on pension issues as provided for in the Retirement Benefits Act and advise the Government accordingly.

“You are within your rights to raise these issues. We shall look in to them and act as per our mandate,” said Mr. Mutuku.

Mr. Mutuku noted that RBA’s role was that of the regulator whereas the mandate of creation of schemes lies with employers in consultation with workers.

He said that RBA is mandated to protect the interests of scheme members and in this regard it had recently implemented enforcement actions against a number of problematic pension schemes in the country and assured Kenyans that the Authority will not relent in taming rogue trustees or any stakeholder who does not follow the law.See RBA Press Release on County Pension Schemes

He further noted that RBA is open to receive complaints from the public with regard to any registered retirement benefits scheme and has put in place multiple easily accessible channels through which members can file complaints.

It was agreed that another meeting would also be organised urgently to discuss all issues affecting the County Governments’ workers in regards to the existing pension funds.

For queries regarding the Retirement Benefits Industry or your pension scheme please call RBA on toll free number: 0800720300 or just dial *870# for free and follow the prompts.  Also write to info@rba.go.ke.

 

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