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Sh100,000 fine for pension admins in RBA changes

Retirements Benefits Authority wants pension funds for public entities not to be categorised as public funds. [Courtesy]

The Retirements Benefits Authority (RBA) will now slap pension fund managers and administrators with a Sh100,000 for late submission of their audited financials statements.

The regulator in proposed amendments to the RBA Act also wants pension funds for public entities not to be categorised as public funds.

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