TelPosta engages pensioners in drive to enhance benefit processing

TelPosta Towers in Nairobi, which is owned by TelPosta Pension Scheme. [File, Standard]

More than 2,000 pensioners and deferred members across the country have been engaged through a nationwide education and outreach programme by TelPosta Pension Scheme as the retirement benefits fund seeks to improve benefit processing, enhance transparency and strengthen confidence among members.

The initiative, which has been rolled out in Nairobi, Mombasa, Kisumu, Eldoret, Nakuru, Nyeri and Machakos, comes amid growing demand from pensioners for faster services, clearer information on benefits and greater accountability in the management of retirement savings.

TelPosta Pension Scheme Administrator and Trust Secretary Peter Rotich said the forums were designed to provide members with direct access to trustees and management while addressing concerns that emerged from a comprehensive member survey and benchmarking exercise.

"The nationwide forums have enabled us to engage directly with members, listen to their concerns and provide updates on the measures being taken to improve service delivery, strengthen communication and safeguard the long-term sustainability of the Scheme," said Rotich.

According to the Scheme, feedback from members has largely centred on the timeliness of benefit payments, clarity on pension entitlements, investment performance and the need for more responsive customer support.

The outreach programme forms part of a broader transformation agenda that includes the modernisation of internal systems aimed at streamlining workflows, improving record management and accelerating the verification and approval of pension benefits.

Rotich said the reforms have already improved operational efficiency and enhanced the Scheme's ability to process benefits within stipulated timelines.

"We have invested in modern systems and strengthened our operational processes to ensure members receive faster, more reliable and predictable services. These improvements are helping us deliver a better experience while maintaining high standards of accountability and professionalism," he said.

The forums have also been used to update members on the Scheme's financial position. The latest actuarial valuation conducted as at June 30, 2023, showed that the Scheme is fully funded, with a surplus of Sh1.704 billion. The valuation indicated that for every Sh100 owed in future pension obligations, the Scheme holds Sh115.60 in assets.

However, trustees have acknowledged that liquidity remains a key challenge due to the Scheme's heavy concentration in property investments, which account for about 83 per cent of its portfolio. The exposure is significantly higher than the Retirement Benefits Authority's recommended threshold of 30 per cent.

The Scheme says it is addressing the challenge through the gradual disposal of some property assets and diversification into higher-yielding investments to improve liquidity and support future pension obligations.

To strengthen accountability, TelPosta has also introduced quarterly internal audits, enhanced reporting frameworks and expanded opportunities for members to engage directly with trustees and management.

The move comes at a time when pension schemes across the country are under increasing pressure to improve governance, enhance transparency and deliver timely benefits to a growing population of retirees.

Rotich said the Scheme will continue to expand member engagement programmes and improve accessibility for pensioners, including those in rural areas, through digital platforms, simplified communication materials and strengthened customer support channels.

"Our goal is to ensure that every member understands their benefits, has access to timely information and receives efficient service. We want members to have confidence that their retirement savings are being managed prudently and sustainably," he said.