You can now go for your locked penshen savings.

Electronics4u

Village Elder
Staff member
#1
ECONOMY
MPs scrap age limit rule on accessing pension savings
FRIDAY, NOVEMBER 8, 2019 8:39
BY JOHN MUTUA
The National Assembly in session. FILE
Workers who lose or change jobs will now be allowed to access their employers’ pension contribution after MPs Thursday annulled a legal amendment that had locked the savings until they reach 50 years.
The MPs said that National Treasury and the Retirement Benefits Authority (RBA) did not properly seek views of Kenyans before adopting the legal notice that effectively locked more than Sh385 billion in the pension pool.
They said that the legal changes had far-reaching implications and termed the public participation exercises conducted by Treasury and RBA as ‘mediocrity’.
Suspended Treasury Secretary Henry Rotich locked up the savings through Legal Notice 92. Observers said the move was meant to give the State access to long-term loans from the billions held by Kenyans in pension savings.
“The two are very important but our law is very clear that we comply with all constitutional requirements,” Kirinyaga Central MP John Wambugu said...
https://www.businessdailyafrica.com...avings-age/3946234-5341206-b4khffz/index.html
 

spear

Village Sponsor
#3
Does NSSF have that contribution in cash so that everyone can access it as they wish. Last time I checked most of it is was locked in various investment. I means most of it that atwoli has not yet eaten with the board as they direct management on the next scandal before firing them and getting others to do the same at their behest.
 
#7
This limits the investment options available to Pension funds. The actuarys have to revise the investment models to detrmine what percentage can be held on long term investments and the balance in short term easy to liquidate Assets. The short terms assets principle rationale is to finance withdrawals demanded prior to maturity / retirement age .

overall, the returns on investments will decline. currently most pensions are registering 8% net. i forsee returns falling to 4% and below.
 

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