PREMIUM Pension funds eye special T-bond to recover Sh71bn Business 32 min ago Listen

Article Pension funds are pushing for issuance of a special Treasury bond to recover more than Sh71 billion in unremitted deductions, as mounting arrears by county governments and other agencies rattle the stability of retirement savings.

Photo credit: Lucy Wanjiru | Nation Media Group For instance, while the CPF Group, which manages pension funds for county workers, has continued to expand its membership and asset base, the failure by employers to remit statutory deductions is hurting the growth pace.

CPF Group wants the Treasury to issue the bond on behalf of the 47 county governments, allowing pension schemes to be paid upfront while counties service the debt over time.