Report: 7 in 10 Kenyans unprepared for comfortable retirement
Family costs are the biggest barrier to saving at 44 per cent, followed by low or irregular income at 37 per cent and debt repayments at 24 per cent. The post Report: 7 in 10 Kenyans unprepared for comfortable retirement appeared first on KBC Digital .
A recent report by SanlamAllianz has revealed that seven out of ten Kenyans are not on track for a comfortable retirement, despite being aware of the importance of retirement savings. The study, titled the SanlamAllianz Kenya Retirement Benchmark, highlights that everyday financial pressures, such as household expenses, debt repayments, and immediate financial needs, often take precedence over long-term financial security.
The biggest barrier to saving, according to the report, is family costs, accounting for 44%, followed by low or irregular income at 37%, and debt repayments at 24%. Only four percent of respondents blame a lack of understanding or trust in retirement products for their lack of retirement savings.
Brief written by urgent.news from KBC's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
