RBA boss pushes for pension uptake

Acting RBA chief executive Nzomo Mutuku. FILE PHOTO | NMG 

By RUSHDIE OUDIA 

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The Retirement benefits Authority (RBA) has called on the informal sector to take up individual pension plans.

Acting RBA chief executive Nzomo Mutuku said there is a need to find ways of making the workers improve their quality of life after retirement as parents no longer depended on their children in old age.

“Individual pension plans provide access to retirement savings for self-employed individuals and consequently allow members to enjoy tax relief and expand their scope for a healthy and comfortable retirement,” said Mr Mutuku.

He was speaking Wednesday during the Micro and Small Enterprises Authority (MSEA) sensitisation in Kisumu.

“When one retires, they should ensure that they can at least maintain the lifestyle they had during their working years,” he said.

Kisumu County Commissioner Mohammed Maalim asked the traders to embrace pension saving.

“We will need benefits when we are old and cannot depend on others. This sector is growing and generating revenue for the county and country and therefore we need to set aside some funds to cater for our benefits.”