Regulator eyes 30pc increase in pensions uptake

Retirement Benefit Authority CEO Nzomo Mutuku (left) and Zamara Group Chief Executive Sundeep Raichura at a past event. [Courtesy]

The restructuring of the local pension funds has failed to attract the informal sector, atop State official has said.

The Retirement Benefits Authority (RBA) Chief Executive Nzomo Mutuku said yesterday that traditional pension scheme products have proved unsuitable for the population hence the need to embrace technology to increase penetration.