Uhuru Kenyatta

All parliamentary appearances

Entries 1411 to 1420 of 1516.

• 11 Feb 2009 in National Assembly: Mr. Deputy Speaker, Sir, I beg to reply. view
• 11 Feb 2009 in National Assembly: (a) With emergence of many pension schemes, the Government has taken necessary regulatory measures through the Retirement Benefits Authority (RBA) to ensure that employees are not view
• 11 Feb 2009 in National Assembly: 4876 PARLIAMENTARY DEBATES February 11, 2009 view
• 11 Feb 2009 in National Assembly: defrauded of their pensions. view
• 11 Feb 2009 in National Assembly: (b) The assets held by private determined benefit schemes amount to a total of Kshs203 billion as at June, 2008. In the recent past, there are no schemes which have become insolvent. However, we have a number of old schemes which existed before the Authority came into existence in 2000, which operated as defined benefit schemes with under-funded liabilities. The schemes were required to be, at least, 80 per cent funded. However, they are not insolvent because they are still in operation. view
• 11 Feb 2009 in National Assembly: (c) Fifteen per cent of Kenya's working population is within the pension bracket. However, my Ministry is developing a national pension policy to increase the coverage of retirement benefits and to consider the feasibility of providing basic pension for non-working class or elder persons who are living in absolute poverty. view
• 11 Feb 2009 in National Assembly: Mr. Deputy Speaker, Sir, amongst some of the safeguards that have been taken include that the Retirement Benefits Authority (RBA) which is, first and foremost, mandated to register all pension schemes before they are allowed to operate. view
• 11 Feb 2009 in National Assembly: Key service providers of schemes which include custodian companies, fund management companies and scheme administration companies must also equally seek to obtain registration before they are allowed to offer services to schemes here in Kenya. All schemes are also required to have prudent investment policy statements prepared by approved professionals to guide the manner the assets will be invested by the asset managers. view
• 11 Feb 2009 in National Assembly: Mr. Deputy Speaker, Sir, furthermore, all schemes are required to make periodic returns to the Authority to enable off-site inspection of the position of the scheme's assets and indeed, the state of governance of those schemes. view
• 11 Feb 2009 in National Assembly: Mr. Deputy Speaker, Sir, equally, the Authority makes on-site inspections of schemes regularly to ensure compliance with the law. These, amongst other measures, ensure that the Authority is regularly monitoring the activities of all schemes, especially in light of the current situation that exists in the financial sector. view