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{
    "id": 1489590,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1489590/?format=api",
    "text_counter": 245,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " Thank you, Hon. Deputy Speaker. I thank my colleague, the Chairperson of the Departmental Committee on Agriculture and Livestock, Hon. Mutunga, for requesting for that statement. I think the Committee will endeavour to go beyond the statement that has been sought. The pension savings, as a percentage of GDP in Kenya, is between 10 and 15 per cent. This is much lower than the global average of around 50 to 100 per cent. One of the reasons we could be lagging in pension savings, as a percentage of GDP, compared to countries of equal GDP, might be because we are not investing in those pension schemes as we should. The Departmental Committee on Finance and National Planning will endeavour to meet the relevant authorities, including the Retirement Benefit Authority and all the other pension schemes, to see how they are investing those monies and ensuring that the savings are not just used for the development of this country, but are also safeguarded. That is so that when our pensioners retire, they are assured they will get their pension on time. They will also grow the fund and ensure that it is used for the economic development of this country. Hon. Deputy Speaker, if you give us two weeks, we should be able to respond to the request for a statement that has been sought by Hon. Mutunga. Thank you."
}