The Impact of the 2021/2022 Budget

IMPACT OF THE 2021/2022 BUDGET STATEMENT ON THE PENSIONS SECTOR IN KENYA

BACKGROUND

“On 10th June 2021, the Cabinet Secretary for the National Treasury and Planning delivered the 2021/2022 Budget Speech to the National Assembly. The Budget Statement set out that theme of the 2021/2022 Kenyan Fiscal year is “Building Back Better: Strategy for Resilient and Sustainable Economic Recovery and Inclusive Growth” and has set out various proposed reforms to the Pensions Sector. Accordingly, we have reviewed the Budget Statement and highlighted in our article below the proposed reforms, for the benefit of various stakeholders including Members of Pensions Schemes, Scheme Trustees, Corporate Trustees, Insurers and Actuaries.”

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