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Retirees face hard times as funds shrink

21 November 2011, 12:37

Kenyans retiring in the next one year will take home less pension following underperformance of assets invested at the Nairobi Securities Exchange.

Fund managers said recovery is not expected until the second half of 2012.

A survey involving 128 pension schemes that control 28.4 per cent of the Sh451 billion pension assets revealed that they lost nine per cent in value in the year ending September 30, 2011.

However, performance over three years ending on the same date was 7.2 per cent up.

For more visit Business Daily

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