Experiences of Retirees Under Pension Scheme Coverage In Kenya: The Case For Pension Reforms
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Date
2018-01
Authors
Maina, Lucy
Mwangi, Samuel
Journal Title
Journal ISSN
Volume Title
Publisher
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
Abstract
Retirement is a phase of life following cessation of regular work entailing significant reduction
one’s engagement with income-related pursuits. For persons who in their working life joined or registered in a
pension scheme, retirement holds a promise of obtaining pension benefits that accrue over the working years. In
Kenya, there has been an increase in the number of retirees exiting the labour force with terminal retirement
benefits even though, pension scheme coverage of workers is still low estimated at less than 20% in the country.
Retirement benefits in Kenya are paid in four common modes: total lumpsum, partial lumpsum, monthly
pension, and annuities. Although studies have been conducted to examine patterns of enrolment in schemes in
Kenya and income security pensions, there is dearth of knowledge on how pensioners experience retirement in
Kenya and if these significantly differ from those of non-pensioners. Thus, the objectives of the study were: to
examine the major social, economic and demographic characteristics of the pensioners; explore the experiences
of retirees receiving pension benefits; and recommend ways of dealing with the negative experiences and
challenges faced by retirees in Kenya. The paper however focus on experiences of retirement . A sample of 978
persons aged 50 years and older were recruited from 9 regions and 18 counties of Kenya. Data were collected
using a survey questionnaire, focus group discussion and key informants interviews.
Description
A Research Article in the IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
Keywords
Retirement, pension, Individual and psychological experiences, Family-related experiences, Economic-related experiences
Citation
Maina, L., & Mwangi, S. (2017). Experiences of Retirees under Pension Scheme Coverage in Kenya: The Case for Pension Reforms. International Journal of Humanities and Social Sciences (IOSR-JHSS), 23(1), 51-60.