Summary Kenya’s social security system is considered important for the security of workers, their families, and the community.The Kenyan social security system is divided into three pillars - a public scheme, occupational schemes, and individual schemes.
The Kenyan social security system provides compulsory benefits such as old-age, disability, sickness, death, maternity, work injury, unemployment, and medical care, for different groups of individuals such as children, employed, unemployed, retired, or elderly individuals.In Kenya, employers provide supplementary retirement plans to their employees under Pillar II.
The supplementary retirement plans can be DB or DC schemes. Employers create and operate an occupational pension fund or may contribute to a pension plan registered with the Retirement Benefits Authority (RBA).
The report provides in-depth industry analysis, information and insights of the employee benefits in Kenya, including: overview of the state and compulsory benefits in Kenya, detailed information about the private benefits in Kenya, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Kenya.
Key Highlights - The National Social Security Fund Act of 2013 is responsible for the functioning of the overall social security system.
- Kenya’s social security system is considered important for the security of workers, their families, and the community as a whole.
- In Kenya, employers provide supplementary retirement plans to their employees under Pillar II.
- The supplementary retirement plans can be DB or DC schemes. Employers create and operate an occupational pension fund or may contribute to a pension plan registered with the Retirement Benefits Authority (RBA).
Scope This report provides a detailed analysis of employee benefits in Kenya -
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen’s compensation insurance, maternity and paternity benefits, unemployment, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Kenya
Reasons to Buy - Make strategic decisions using in-depth information related to employee benefits in Kenya.
- Assess Kenya’s employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Kenya.
- Gain insights into key organizations governing Kenya’s employee benefits, and their impact on companies.
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