Pension scheme for informal sector.

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By JOSEPH OJWANG

Plans are underway to tap the informal sector into a private savings for retirement run by Zamara.

Zamara is a pension fund administrator, administering assets worth over Sh. 275 billion.

The pension company Group Chief Operating officer Chris Ogetii said the informal sector has not been keen in saving for their retirement.

Ogetii announced that next month they were coming up with a pension retirement plan that is designed to assist individuals and groups.

He said the plan would build up retirement capital in a tax efficient way in order to provide their clients with an income during their retirement age.

Speaking in Kisumu on Thursday during a regional seminar that brought together pension fund trustees, investment professionals and regulators, Ogetii said pension industry in the country had witnessed phenomenal growth in the last 15 years.

He said the new plan will be on a digital platform making it available to a wide range of Kenyans while offering quick service.

Ogetii said the company is coming up with tailor made messages to the public as a way of demystifying some facts on pension.

He said most Kenyans have not embraced pension due to lack of clear messages.

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Chris is a digital nomad and travel the country while freelancing and blogging. Rest assured, his job is always his first priority.