Assembly members to get retirement cash in lumpsum

Kakamega, Kenya: The Kakamega County Assembly and the Local Authorities Provident Fund (Lapfund) have sealed a deal to pay members of the assembly their retirement benefits in a lump sum at end of their service.

The deal was signed by County Speaker Morris Buluma, who chairs the Kakamega County Assembly Service Board and David Koross, CEO of Lapfund, in the presence of Majority and Minority leaders of the house.

Speaking to the press in the Speaker's chamber, Koross said he was happy that the Assembly had made a milestone by signing the deal.

"Now the beneficiaries of this deal will be able to earn an enhanced retirement package with interest at the expiry of their service," said Mr koross.

NEW MILESTONE

Early this year, the Presidential Task Force Committee under Abdikadir Mohamed recommended that Laptrust and Lapfund be merged to create a County Pension Fund (CPF).

Currently, county employees choose between Laptrust and Lapfund.