The Pensions and Insurance Authority PIA says it plans to introduce micro pensions scheme that will target the informal sector in the country.
Speaking in an interview with Money FM News, PIA Public Relations Manager Doreen Silungwe says that the Authority has observed that most people in the informal sector do not have a fall back when they retire.
Ms Silungwe says that once the micro pension scheme for the informal sector is established, it will increase the up take of pensions in the county.
She says the Authority is since engaging various stakeholders on how best they can include the informal on the pensions scheme.
“What we want to see this year is an increase in the uptake of pensions, the uptake of pensions has been very low as the number of people on pensions scheme stands at 107,293 thousand,’’ She said.
Ms Silungwe adds that Kenya is one of the countries that is greatly benefiting from micro pensions.

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