×
App Icon
The Standard e-Paper
Fearless, Trusted News
★★★★ - on Play Store
Download App

Retirees face bleak future as pension scheme funds fall

Zamara Fanaka Retirement Fund Investments, Asset Consultant, Neha Datta (left) with Chairperson Lucy Kambuni and Deloitte Senior Manager-Audit, Fredrick Odero, during Zamara Fanaka Retirement Fund Investments meeting in Nairobi on Tuesday, April 17 2018.[David Njaaga,Standard]

Kenyan retirees earn much less than the world’s recommended income due to a poor saving culture and high taxation of pension schemes, experts say.

According to data from Zamara Fanaka Retirement Fund, Kenyans retiring at age 55 and above live on about 22 per cent of their pre-retirement salaries, against the global market’s recommended standard of 66 per cent.

Get Full Access for Ksh299/Week.
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in