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{
    "id": 568324,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/568324/?format=api",
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    "content": "pension, they get it according to the same shilling rate. No provision is made for inflation. Most public servants today, even those of my age who retired, cannot tell you what their pension is because it is not commensurate to the services they provided and they cannot live on it, although they were senior public servants. It is important that a policy be established to ensure that when the shilling depreciates for whatever purpose or inflation comes, it is adjusted to ensure that the pension sustains the pensioner. Mr. Temporary Speaker, Sir, as we establish the pension scheme, I am happy and proud that we have a very respectable regulator, the Retirement Benefit Authority (RBA). It is one of the best run institutions headed by my colleague with whom we worked together in the Kenya Revenue Authority (KRA), Dr. Odundo. It has tried as much as possible to bring sanity and regulation in this sector in terms of where they can invest. Previously, some pension schemes were investing recklessly; they ran into losses and exposed employees’ pensions. There should be no worry that the pensioners’ money will disappear when this authority is established, because RBA is there to ensure that investments run prudently. I also wish that the investments coming out from the pension schemes should also benefit the counties where these employees are. If you look at most investments, from pension schemes, real estate or funding the government treasury bills, it has been mainly for the interest of Nairobi, the country’s capital city but the counties have not benefited. So that counties feel that they own this process or institutions, investment should also be devolved to take care of the interests of the counties. Mr. Temporary Speaker, Sir, with those few remarks, I wish that, since this involves employees who are the biggest stakeholders, there is need for thorough civic education before they buy into it, otherwise, they will reject it. I believe that if Kenyans were educated on the benefits of the National Hospital Insurance Fund (NHIF) contribution issue, none of them would reject it. We have the right to establish a law since it is compulsory. Kenyans are educated and they know their rights. We cannot just enact legislation and expect that they will buy into it. I believe that the NHIF has the potential to improve the health services for our people, whether employed or unemployed. I encourage Kenyans to join that scheme but the approach should be changed. If the governors are hesitant, then there must be proper dialogue. It is not only the governors; we should also involve the county assemblies because at the end of the day, they are the ones who make laws in the counties. We should also involve even the employees and the unions. I am not a member of the Committee and I was not here to listen to what the proposers have done but more consultations need to be carried out."
}