Seven in 10 Kenyans not on track for comfortable retirement, study finds
Seven in 10 Kenyans believe they are not on track to achieve a comfortable retirement, with rising household expenses, irregular incomes and debt repayments undermining their ability to save, a new study has found. The inaugural Sanlam Allianz Kenya Retirement Benchmark, released in Nairobi on Monday, found that despite widespread awareness of the importance of [...] The post Seven in 10 Kenyans…
A recent study reveals that seven out of ten Kenyans do not have a plan to attain a comfortable retirement. The primary reasons cited by respondents include rising household expenses, unstable income, and debt repayments, which hinder their capacity to save for their later years. Despite the widespread recognition of the importance of retirement planning, many Kenyans face financial constraints in building and safeguarding their savings.
The research, titled "Kenya Before It Ages," highlights financial pressures, premature withdrawals, and limited knowledge of retirement income planning as significant hurdles to achieving long-term financial stability.
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