Times Tower and CBK Pension Towers Hrambee Avenue Nairobi.[Wilberforce Okwiri,Standard]
New push for universal social security policy
Business
By
Graham Kajilwa
| Oct 09, 2025
The Pension Club International (PCI), championed by Dr Hosea Kili, managing director of CPF Financial Services Group, proposes funding the scheme, at least in part, through taxes.
Dr Kili argues the current pension model is flawed due to its heavy reliance on the formally employed.
“That is why I find it failing. We are yet to introduce what we can universal social security where the state works with the citizens to enable everyone to enjoy a pension on retirement,” he stated during the PCI launch in Nairobi. He envisions a system where a portion of income taxes is channelled into pension schemes, linking civic duty with personal retirement security. The existing National Social Security Fund (NSSF) offers an individual contribution option, but its "check-off" deduction mechanism naturally favours formal workers, making them easier to manage for both state and private pension funds. Kili, through PCI, aims to broaden this reach significantly. Geoffrey Odundo, PCI board chair, highlighted the pressing need for change, noting that even retired employees in the formal sector often receive inadequate pensions to maintain a decent lifestyle.
"We don’t have a unified formal structure on how to deal with people when they leave employment.
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Through education and advocacy, PCI seeks to cultivate a savings culture from a young age, empowering Kenyans across all life stages.
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