New index to track Kenya’s pensions industry
At least 56 per cent of retirees in Kenya depend on their children for support or live in poverty despite making contributions to their pension schemes while in active employment, a study has disclosed.
The study done by Lunar Odawa-Nguchu of Blossom Consulting Services reveals that the amount the retirees receive is inadequate to cater for their needs.
He said while retirement planning needs to prepare individuals for life after paid work ends, not just financially, not all aspects such as healthcare are taken into account.
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