The National Assembly has passed the Pensions (Amendment) Bill, 2022, aimed at expediting the processing and payment of pensions.....CLICK HERE TO READ THE FULL ARTICLE>>>
The Bill, sponsored by Hon. Didmus Barasa (Kimilili), now heads to State House for assent by President William Ruto.
The Pensions (Amendment) Bill amends the Pensions Act to establish a clear timeline for pension disbursement.
Under the new provisions, government ministries and departments are required to submit the necessary documents to the Pensions Department within 30 days of an employee’s retirement.
The Pensions Department will then have a 60-day window to process and disburse pension payments to retirees.
It is a relief for civil servants, who have often faced long delays in receiving their retirement benefits.
Many retirees have waited for years to access the funds that are meant to sustain them post-retirement.
The new timeline aims to reduce delays in pension claims, ensuring that retirees receive their payments promptly.
MP Barasa asked his fellows in the August House to relook at the importance of timely pension disbursement in providing financial security for retirees.
“The principle object of the Bill is to amend the Pensions Act, Cap. 189 to provide a timeline within which pension shall be payable to an officer.
The Bill seeks to remedy the delays experienced in payment of pension to pensioners upon maturity of pension funds,” the Bill states.
The Bill now secures the future of pensioners and their dependents, enabling access to essential services such as healthcare, shelter, and education.
By establishing a clear timeline for pension payments, the Bill aims to ensure that officers who exit the public service receive their gratuities, pensions, and other allowances in a timely manner...CONTINUE READING>>
