The Government has urged all pensioners in Kenya to ensure that they have registered themselves in the new pensioners’ self-registration portal by February 2025.
PS in charge of National Treasury, Chris Kiptoo stated that all who will have missed registration into the new system will be suspended from the payroll.
“We are giving all pensioners to complete their registration by February 28, 2025. This deadline is not negotiable and it will serve as a vital step to organize and streamline pension administration,” he spoke during the launch.
“Kindly know that any pensioner who does not complete registration by this deadline will face suspension from the payroll,” Kiptoo asserted.
The move by the National Treasury PS comes in light of the government’s bid to mitigate fraud and inefficiencies in claims processing. Hence, they are rolling out a new end-to-end Enterprise Resource Planning (ERP) system.
PS Kiptoo noted that only about 26% of retired Kenyans get to enjoy pensions despite the country holding nearly Sh. 2 trillion in pension assets. The integration of technology aims to see these numbers increase with efficiency and reliability.
A look at Co-op Bank’s pension-backed mortgage: eligibility and benefits
Dr. Alfred Kagika, the Director of Pensions at the National Treasury revealed that they hope to achieve 100% transition into the system by March 2025. The new portal seeks to tackle challenges such as loss of records and incorrect personal balances.
Furthermore, the system is designed to expedite payment process and declutter spaces in pension offices. He explained that pensioners will receive automated payment alerts from anywhere, provided they are registered in the system.
Dr Kagika also shared that the government is in works to introduce a new system of streamlining pensions for those in the informal sector. The new system will be introduced by President Ruto during the Hustler Fund’s second anniversary.
