Business Daily | by Elizabeth Kivuva
Pension payouts by insurers dropped by Sh860 million last year compared to the previous year following a short-lived law that limited access to employer’s contribution fund, a new report shows.
An annual report of the Association of Kenya Insurers (AKI) shows that pension claims fell to Sh23.65 billion in 2019 from Sh24.51 billion the previous year despite an increase in savings for retirement by members.
Chief executive Tom Gichuhi has attributed the drop to an amendment to the Retirement Benefits Regulations in the financial year 2018/19…
