Treasury secretary Henry Rotich has informed Parliament that the delayed civil service pension scheme will start in October as Kenya struggles to meet rising public servants retirement costs. Part of the pension time-bomb has been attributed to the government’s failure to push through necessary reforms, including kick-starting the long awaited contributory pension scheme. “The government will implement the superannuation pension scheme from October 2018,” Mr Rotich said in a notice to MPs. The government had last year timed the launch of the contributory pension scheme to coincide with the July review of public servants pay. The responsibility of the government will be monthly contribution as opposed to the current structure where it pays for retired civil servants’ pension.

Source: Daily Nation May 14, 2018 05:15 UTC