The Council of Governors (CoG), represented by the Vice Chair, CoG Human Resource Committee H.E. Mutahi Kahiga attended the Annual Pension Summit and Benchmarking Tour in Amsterdam, Netherlands from 29th May to 2nd June 2023. The summit, organized by Finnet Institute, offered an opportunity for pension stakeholders, organizations and delegates from East Africa to share learnings on global pension shifts and market developments that drive member outcomes with global thought leaders. Netherlands is ranked among the best practices in the world for retirees with a robust and sustainable pension system.
Present during the tour were the PS, Devolution Ms. Teresia Mbaika, CoG CEO Ms. Mary Mwiti, Group MD and CEO CPF Financial Services Hosea Kili amongst others. The Kenya delegation was received by Kenya’s Ambassador to the Hague, H.E. Margaret Wambui Ngugi Shava.
The summit incorporated benchmarking tours with education programs that provided best practices and fresh perspectives on how to tackle emerging pension challenges to achieve sustainable social security provisions.
“Social security is guaranteed as a basic right for every person under article 43 of the Constitution of Kenya. It seeks to ensure that all Kenyans have a dignified life and enhance their capacity to advance their own socio-economic development,” noted H.E. Mutahi Kahiga while giving his remarks.
“Pension matters do not only concern the elderly or those who are retired but also the young people. We need to inculcate a saving culture among the youth, particularly in Kenya, and encourage them to plan better so that they can improve their lives and safeguard their future,” added Ms. Mary Mwiti.
The summit discussed among others: the social security landscape in  Netherlands and trends in retirement provision; pension investment- case studies of the Netherlands; global investments and diversification, governance of fund investments and alternative investments; governance, administration, and innovation in member services; case study on blended financing and impact investing and; pension innovation and technology – a case study of People’s Pension Trust Ghana.
“The CPF is working in collaboration with the Council of Governors and County Governments to offer pension solutions that provide adequate, affordable, and sustainable retirement benefits to all Kenyans through a robust pension system,” said Mr. Hosea Kili.
It is envisaged that the lessons and insights acquired during the summit and benchmark tour will go a long way in improving Kenya’s pension system and accelerating investments, governance, and innovation in social security.