Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saving for retirement is one of the most important financial decisions individuals need to make during their working lives. It is essential to ensure financial security and peace of mind in one’s later years. However, many people struggle with planning for retirement due to limited access to pension schemes, financial illiteracy, or inadequate income. Savings…
The Retirement Benefits Authority (RBA) has rolled out a nationwide sensitization campaign to encourage more Kenyans to join the retirement scheme to cushion themselves during old age. Speaking in Kisumu, RBA Chief Executive Officer Charles Machira said that according to their data, only 26 percent of the country’s entire labour force saves for retirement. “This…
Retirement can mean leaving employment to pursue other interests or businesses. According to my personal analysis, upon retirement, 47 percent of retirees depend on relatives, 3 percent go back to working, 16 percent depend on state pension and only 34 percent have financial independence. Interestingly, 82 per cent of those with financial independence (the 34…
The Retired Officers Welfare (ROWE) group, is redefining the art of retirement in the serene rural heartlands of Kakamega North County. Their story, a testament to the pursuit of both economic prosperity and community, unfolds against the backdrop of the attractive Kakamega landscape. Comprising retired individuals, ROWE stands as a stark contrast to the solitude…
By Asa Maina Unison Sacco has introduced the Golden Plan, a retirement saving plan that will see members save a minimum of Shs 200 monthly, withdrawable upon retirement. The Sacco’s chairman James Muhandi revealed that upon retirement, the depositor will determine whether to receive the money as a lump sum amount or in monthly installments….
By Erick Nyayiera Individuals who are self-employed in Siaya County have been encouraged to embrace the culture of saving for retirement as a security measure for their old age. According to Retirement Benefit Authority (RBA) Cooperate Communication Manager Rose Kwena, those in self-employment should ensure they join the various private and occupational pension schemes to…
