Kenya’s social security system is considered important for the security of workers, their families, and the community. The Kenyan social security system is divided into three pillars - a public scheme, occupational schemes, and individual schemes.
The report provides in-depth industry analysis, information, and insights of the employee benefits in Kenya, including an overview of the state and compulsory benefits in Kenya, detailed information about the private benefits in Kenya, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Kenya.
The report provides in-depth industry analysis, information, and insights of the employee benefits in Kenya, including an overview of the state and compulsory benefits in Kenya, detailed information about the private benefits in Kenya, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Kenya.
Key Highlights
- Retirement benefits (old-age) in Kenya are regulated by the National Social Security Fund Act of 2013
- General supervision is carried out by the Ministry of Labor through a board of trustees
- The NSSF operates two funds, the pension fund, and the new provident fund, which provide old-age pension and old-age benefits respectively
- The Kenyan retirement benefits system comprises three pillars
- The employers provide supplementary retirement plans to their employees under Pillar II. The supplementary retirement plans can be DB or DC schemes
Scope
This report provides a detailed analysis of employee benefits in Kenya:
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, long-term care benefits, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Kenya
Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in Kenya
- Assess Kenya's employee benefits market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in Kenya
- Gain insights into key organizations governing Kenya's employee benefits, and their impact on companies
Table of Contents
1. Executive Summary2. Introduction 2.1 What is this Report about?
2.2 Definitions
3. Country Statistics
4. Overview of Employee Benefits in Kenya
5. Regulations
6. State and Compulsory Benefits6.1 Retirement Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
- Unemployment Benefits
- Leaves and Holidays
7. Private Benefits 7.1 Retirement Benefits
7.2 Death Benefits
7.3 Medical Benefits
7.4 Disability Benefits
7.5 Accidental and Dismemberment Benefits
7.6 Other Benefits
- About the Publisher
- Contact the Publisher
List of TablesTable 1: Insurance Industry Definitions
Table 2: Kenya - Country Statistics
Table 3: Kenya - Retirement Benefits, Tier One, and Tier Two Contribution Rates
Table 4: Kenya - Short-term Sickness Benefits Contribution Rates, 2021
Table 5: Kenya - Medical Benefits Contribution Rates, 2021
Table 6: Kenya - Maternity and Paternity Benefits Contribution Rates
Table 7: Kenya - Public Holidays 2021
Table 8: Kenya - Compensation for permanent disablement
Table 9: Kenya - Compensation for total disablement
List of FiguresFigure 1: Kenya - Main Institutions of Social Security System
