Kenya’s evolving pensions sector took centre stage at the Liberty and Heritage Pensions Conference held recently at Villa Rosa Kempinski.
The conference, whose theme was ‘Risk Proof Your Future’, involved stakeholders in the insurance and wider financial industry. They participated in discussions on critical issues currently facing retirement benefits including health in retirement, employee benefits, demystifying retirement and financial literacy.
The event is timely given the need to address pressing challenges in retirement planning, especially around products and disbursements.
“As you are aware, the modern workplace almost entirely consists of millennials and Generation Z. These generations have ultimately shifted the traditional way of working and have a different perspective on life from older members of our communities,” said Liberty Group Holdings CEO Kieran Godden.
Other speakers included Liberty Life Managing Director Nkoregamba Mwebesa, medical professional Dr. Ongero Ong’ech, human resources expert Wycliffe Osoro and insurance expert Joseph Kyungu.
The conference was held amidst the backdrop of various changes in the pensions sector including the National Retirement Benefits Policy by the Retirements Benefits Authority.
The policy is designed to address longstanding challenges in the retirement benefits sector, including a fragmented legal framework, exclusion of informal workers, inadequate benefits, and difficulties with portability across schemes.
“Building a robust pensions infrastructure will help us and our customers’ assets withstand volatile macroeconomic conditions and provide peace of mind to everyone of our stakeholders”, said Mr. Godden.
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