Govt Issues Notice to Pension Scheme Providers Over Payment of Levy
The government has urged the pension scheme providers to make their payments ahead of a fast-approaching deadline...
✨ Key Highlights
The Retirement Benefits Authority (RBA) has issued a stern warning to retirement scheme providers in Kenya, urging them to pay the retirement benefits levy by the October 31 deadline to avoid substantial fines. Non-compliance could lead to a five per cent monthly penalty on outstanding amounts and a reduced risk score for schemes, potentially jeopardizng pension security for beneficiaries.
- Total assets under management (AUM) in Kenyan pension funds reached Ksh2.25 trillion by December 2024.
- The RBA requires payments to be made via the eCitizen platform, followed by an email confirmation.
- Schemes must also submit audited financial statements by September 30, 2025, a legal requirement under the Retirement Benefits Act, 1997.
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Authorities Warn on Fake Police Recruitment Links, Unpaid Pension Levies, and Counterfeit Seeds - September 2025
The National Police Service Commission (NPSC) has warned the public against fake online application links related to its recruitment of 10,000 police constables. Separately, the Retirement Benefits Authority (RBA) issued a stern warning to retirement scheme providers, urging them to pay the retirement benefits levy by the October 31 deadline to avoid substantial fines. The RBA stated that non-compliance could lead to a five per cent monthly penalty on outstanding amounts. In the agricultural sector, authorities in Busia County have warned farmers to be vigilant after seizing 160 bags of fake bean seeds and unmarked bags of fake cotton seeds in a raid. This bust followed a tip-off regarding the distribution of counterfeit seeds in the region.
