The government has been urged to spearhead the growth and further development of the pensions industry through bolder policy reforms to build back a more resilient and inclusive pensions industry post Covid-19. Speaking at the official opening of a two-day Pension Conference organized by Zamara , the firm's CEO, Sundeep Raichura called for bolder policy measures including making pension contributions compulsory and significantly increasing the tax breaks for the sector. Raichura also said there was an urgent need to extend pension coverage to the uncovered informal sector especially with 85 per cent of the workforce in the informal sector. He added that Zamara has solutions to enable tech-based enrollment and flexible savings by informal sector workers. Mutuku urged pension fund trustees and providers to consider innovating new products to enable Kenyans to benefit from the favorable regulations implemented by RBA.

Source: The Star June 25, 2021 06:56 UTC