Why Kenyans are cashing out retirement savings earlier

The amount of money Kenyans cashed out from retirement savings surged 10 per cent last year pointing to difficulties in retention of formal employment jobs due to economic hardships...

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Kenyans are increasingly cashing out their retirement savings, with a 10 percent surge in withdrawals last year. This trend highlights the severe economic hardships forcing individuals to dip into their future funds.

Amount cashed out increased by 10 percent in the last year.
The main reason cited is job loss and economic difficulties.
Retirement benefit laws allow access to 75 percent of savings upon leaving employment.

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