According to a report by the International Labor Organization (ILO), over 2 billion of the global employed population, 15 years and older, is in the informal sector. In Africa alone, over 85% of the employed population is informal. Oftentimes, when…
The first step to starting up a pension fund for your employees should be learning about the costs of setting up a workplace pension. Nothing ultimately gives you the drive to push forward with something like being sure you can afford…
The retirement journey is a long and tedious one for most people. Apart from the immense research and planning that goes into it, you need to set key strategies to ensure you stick to the plan. Amongst all the strategies,…
Technological development is a crucial element to spearhead any scalable growth in business. The pension industry has over the years maximized this factor and leveraged different technologies and innovations to improve process efficiency, management and intake. Systech, is one such…
How does inflation affect pension is a pretty common question. Retirees are primarily concerned about how inflation eats up their accumulated money over time. According to research, retirees who rely on retirement benefits for survival are likely to experience the…
In 2021, the Kenya pension funds recorded the highest amount lent to the government compared to the preceding years. The National Treasury also issued long-term bonds consistently to the government during the same year. Here are some Statistics: The Central…
The current generation has embraced pension plans a great deal. Everybody tends to believe that there is a time in their life when they will retire. And for these reasons, there is a need to accumulate some savings or receive…
A recent study has revealed a concerning digital skills problem in Kenya. That, in an increasingly digital economy, Kenya lacks enough digital skills to meet the growing demand in the job market. According to a whitepaper by the Africa Center…
According to research, retirees are likely to make substantial financial pension errors due to a lack of experience and poor planning. With millions in their accounts, some end up investing in risky businesses where chances of getting profit are minimal…
In 2021, the Social Security and National Insurance Trust SSNIT convened and agreed to increase pension benefits by 10%. This rule took effect starting this year, January 2022. The principle behind this increase is known as indexation. Indexation is the…
The top thing that comes to people’s minds when the word pension comes up is senior people. This, therefore, speaks to the need for the development of senior-friendly pension solutions. The onset of the Covid 19 pandemic brought some critical…
As your business grows and evolves, there may come a time when you need to introduce new pension systems and processes to your staff. It could be that you want to get started on a workplace pension. Or maybe you…