By WALTER MENYAMore by this AuthorThe recent amendment to the Retirement Benefits Act that allows partial access of money to purchase a residential house has thrown a lifeline to the affordable housing programme. The amendment is part of the Tax Laws (Amendment) Act, 2020, which President Kenyatta assented to on April 25. For Mr Hinga, the amendment is a godsend after his pet project, the affordable housing scheme has hit massive turbulence after countrywide public disapproval of the initial mandatory deduction of 1.5 per cent of the basic salary from all employed Kenyans to go into financing the affordable housing scheme. Under the voluntary programme, Kenyans who buy into the affordable housing scheme contribute a minimum of Sh200 per month. The department also says there are 228 houses under the Affordable Housing Programme which are ready for occupation at Parkroad, Ngara, while a total of 1,370 will be ready by December this year.

Source: Daily Nation May 03, 2020 16:07 UTC