Top 6 Kenya's RBA's Functions
The Retirement Benefits Authority of Kenya is a parastatal under Kenya's National Treasury that came into being in 1997 with the aim of managing pension schemes and manage its members' funds. This process assists members plan for their futures where they will have ceased active employment and writerstake.com delves into the functions of this body below:
1. Supervision and management
Its major aim is to supervise and regulate the management of Kenyans' benefit schemes of retirement.
2. Regulation enactment and implementation.
Through regulation enactment, it enhances management of funds in the retirement benefits industry.
3. Protecting members’ interests.
It looks after the interests of sponsors and its members to avoid scenarios of embezzlement and misuse of their funds through those schemes.
4. Policy formulation and enactment.
It recommends on policies affecting retirement benefits and pensions to Finance Cabinet Secretary.
5. Effecting government policies and directives
It enforces implementation of pensions and retirement benefits policies from the government.
6. Education and awareness creation
It creates awareness among its consumers through education on why it's significant to join viable pension and retirement benefit schemes.
Their premises are located along Upper Hill Road and they are reachable through: 020 280 9000 or Toll-Free No: 0800720300.