Being a pensioner in the 21st century is hard as the pyramid scheme that is Central bank-issued money has collapsed due to mismanagement and greed.
The economic downturn has not really affected Kenya’s pension sector that bad; like let’s say the United Kingdom where money claimed for pension payment is more than the govt can collect for that purpose, from those who are working. Such countries have it easy by invading others, printing money and stealing resources from the countries they’ve invaded. That’s how they roll to come back economically.
Nonetheless, for a country like Kenya, that is deeply in dept, it becomes hard to borrow to pay pensions. Who would even lend you money for that purpose?
The case of Kenya’s BIMA house is tough, here do we start?
The corrupt management at the National Treasury Pensions department doesn’t help matters, either. Some people have been coming to Nairobi, asking for their money since 2015.
Well, we weren’t in bad shape economically in 2015 thereby.
The mess coupled with inefficiency that has bedeviled the Pensions Department stinks to high heaven. In 2019, pensioners exposed staff at Bima House for pocketing bribes from vulnerable retirees, widows and orphans following on their benefits at Bima House.
Acording to sources, some officers openly ask for bribes to facilitate the processing of benefits. In that year, a retired teacher was, for instance, asked to pay Sh150,000 facilitation fees. This was to expedite a process which takes years to complete.
Former Auditor General Edward Ouko unearthed Sh67 billion the department paid irregularly.
So, it is not about lack of money, but goodwill and doing the right thing.
Uhuru Kenyatta and William Ruto have looted the country to the ground and it is very laughbanle that some people believe that it is William Ruto that can help the situation post 2022.
There has been an allegation of an ineffective and corrupt Pensions Department under The National Treasury in Kenya.
A quick check on the Pensions Department Kenya Facebook page (attached shots) shows a number of people whose pension has not been settled since as late as 2015. This has led to poor pensioners who, without the minimum income guarantee, find themselves in abject poverty despite contributing towards a pension scheme.
There are claims that you need to bribe Pension Department of Kenya officials to be served. This leaves elderly retired people sick and penniless, yet grants politicians inflated packages.
There are reports of some elderly people whom the Pensions Department declared dead and deprived of their pensions. Some of them are forced to rely on financial support from their relatives and are subjected to dehumanizing treatment from the state officials for petitioning for their pensions to be paid.
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