Retirement Benefits Authority (RBA) Communications Officer Alex Mugambi has revealed that the authority has registered 41 individual retirement benefit schemes for employees aiming to save for retirement.
Speaking during a media sensitization forum in Kakamega, Mugambi stated that the authority responds in a timely manner to the needs of the stakeholders and that it conducts all its activities in transparency and accountability.
The officer stated that RBA targets to increase coverage to 30 percent by June 2024 from the current 26.4 percent.
He stated that plans are also underway for the authority to extend coverage in the informal sector.
“This will be made possible through targeted awareness programmes and specific products designed for the group,” he stated.
Since its inception in 1997, RBA has played a key role in the retirement benefits sector and amassed assets worth Ksh1.58 trillion.
By Hilda Atika
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