Government Issues Deadline for Pension Registration, Threaten Payroll Suspension.
The government has directed all pensioners to register on the new self-registration portal by February 28, 2025.
National Treasury Principal Secretary Chris Kiptoo emphasized that failure to register by the set deadline would result in suspension from the payroll. He explained that this initiative is essential for organizing and improving pension administration.
“Kindly know that any pensioner who does not complete registration by this deadline will face suspension from the payroll,” Kiptoo continued.
The new system is part of an end-to-end enterprise resource planning initiative aimed at reducing fraud and inefficiencies in claim processing.
The National Treasury highlighted that the pension sector currently holds assets worth approximately Ksh2 trillion, yet only 26% of Kenyans benefit from pensions.
By integrating technology, the government hopes to enhance the system’s reliability and expand coverage.
Efforts to Address Challenges in the Pension Sector
During the launch, Alfred Kagika, the Director of Pensions at the National Treasury, stated that the government is targeting full transition to the system by March 2025.
The e-registration portal is specifically designed to address challenges such as missing records and inaccurate balances, which have previously affected pensioners.
Join Teachers Updates on Facebook
The move follows the National Treasury’s struggle to meet its pension claim targets for the 2022/2023 financial year. Out of a target of 28,422 claims, only 18,640 were processed, underscoring delays caused by inefficiencies in the existing system.
Kiptoo noted that the system would expedite claim payments and reduce congestion in pension offices. Registered pensioners will receive payment alerts remotely, offering a more convenient experience.
He further announced plans for another system to streamline pension services for individuals in the informal sector, which will be unveiled by the President during the second anniversary of the Hustler Fund.
ALSO READ: DP Kindiki Tells KMTC Graduates to Embrace Global Opportunities
The government has reiterated its commitment to modernizing the pension sector to ensure efficiency and improve access for all Kenyans.
Follow Teachers Updates on Facebook, LinkedIn, X (Twitter), WhatsApp, Telegram, and Instagram. Get in touch with our editors at hello@teachersupdates.news.
