Telposta Pension Scheme to Sell Property Assets to Boost Pension Payments
The decision comes as the scheme seeks to align with guidelines set by the Retirement Benefits Authority. - Kenya breaking news | Kenya news today | Capitalfm.co.ke..
✨ Key Highlights
The Telposta Pension Scheme (TPS) will sell part of its extensive property assets to improve cash flow and ensure timely pension payments to its members. This strategic move comes as TPS aims to comply with the Retirement Benefits Authority (RBA) guidelines and address liquidity issues caused by significant property investments.
- Approximately 80 percent of TPS investments are currently in property, exceeding the RBA's recommended 30 percent limit.
- TPS Administrator Peter Rotich announced the structured plan to gradually dispose of selected properties.
- The scheme is owed over Sh276.9 million in unpaid rent as of December 2024, highlighting challenges in property management.
Continue Reading
Read the complete article from Capital News
Part of the Day's Coverage
Ministry of Lands Announces 12-Month Waiver on Loans - March 2026
The Ministry of Lands has announced a 12-month waiver on interest and penalties for outstanding loans issued under Kenya's Land Settlement Fund. This measure aims to provide relief to borrowers struggling with land-related loans. President William Ruto has pledged to intervene and restore properties allegedly fraudulently disinherited from the late former Nyeri Governor Nderitu Gachagua's family, coming after the family sent a letter to the President seeking his assistance. The Telposta Pension Scheme (TPS) will sell part of its extensive property assets to improve cash flow and ensure timely pension payments to its members.
