Kenya parliament annuls pension changes

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The Kenyan parliament annulled measures to prevent terminated employees from withdrawing their employer’s contributions — or investment income on those contributions — to defined contribution plans, prior to retirement age. Employees are now permitted to withdraw up to 100% of their own contributions and 50% of their employer’s contributions and investment income.  

The measures — which would have amended The Retirement Benefits (Occupational Retirement Benefits Schemes) Regulations, 2000 — were challenged on a number of grounds, including the absence of public consultation. 

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Francis Omanyala
by Francis Omanyala

Associate, Mercer Health

Fiona Webster
by Fiona Webster

Principal, Mercer’s Law & Policy Group

Stephanie Rosseau
by Stephanie Rosseau

Principal, Mercer’s Law & Policy Group

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