Eldoret, Kenya – August 26, 2026: Workers and employers in the North Rift have been urged to embrace regular saving, prudent investment and early retirement planning as rising living costs and economic uncertainty increase the need for stronger financial resilience.
The call was made during a financial wellness and retirement preparedness forum organised by Octagon Africa in Eldoret. The forum brought together employees, employers, human resource professionals and business leaders to discuss emerging trends in pensions, insurance and investments.
Held under the theme “Empowering the Workforce: Navigating Evolving Trends in Pensions, Insurance, and Investments,” the forum is part of Octagon Africa’s regional dissemination programme aimed at helping workers and employers understand developments in the financial sector and make informed decisions on retirement planning.
Fred Waswa, Group Chief Executive Officer of Octagon Africa, said financial wellbeing goes beyond earning an income and meeting daily needs, noting that individuals must also be prepared to withstand financial shocks and achieve long-term goals.
“Financial inclusion is only the beginning. True financial wellbeing is measured by an individual’s ability to withstand economic shocks, achieve important life goals and retire with dignity,” said Waswa.
He said rising living costs, healthcare expenses, longer life expectancy and economic uncertainty have made retirement planning an increasingly urgent priority.
“Today’s workforce faces a range of risks that extend beyond the workplace. Inflation, healthcare expenses, longer life expectancy and economic uncertainty mean that retirement planning can no longer be postponed,” he added.
The forum comes as Kenya’s retirement benefits industry continues to record strong growth. According to the Retirement Benefits Authority’s 2025 Statistical Digest, pension assets increased by 26.84 per cent, rising from KES2.23 trillion in 2024 to KES2.83 trillion in 2025.
Contributions to retirement schemes also increased by 17.37 per cent to KES309.3 billion, while investment income generated by pension schemes rose from KES222.2 billion in 2024 to KES274.8 billion in 2025.
Despite this growth, retirement savings remain relatively low compared with Kenya’s working-age population. Membership in retirement benefits schemes increased by 4.7 per cent to 7.71 million in 2025, representing 26.58 per cent of an estimated working-age population of 29 million. Active membership stood at 4.02 million.
Occupational pension schemes remained the largest component of the industry, holding KES1.79 trillion, equivalent to 63.4 per cent of total retirement assets. Individual schemes held KES176 billion, while umbrella schemes accounted for KES253.2 billion.
Participants were encouraged to start saving early, establish emergency funds, manage debt responsibly and take advantage of occupational and individual retirement schemes.
Early saving gives workers more time to benefit from investment growth while allowing them to gradually adjust their contributions as their incomes and financial responsibilities change.
The forum also highlighted the role of employers in strengthening employees’ financial security through appropriate retirement and insurance arrangements, as well as workplace financial education.
Octagon Africa said its regional engagements provide a platform for dialogue with workers, employers and institutions while offering practical insights into developments in pensions, insurance and investments.
The Eldoret forum forms part of the company’s wider programme to promote financial literacy, strengthen retirement preparedness and build more financially resilient workforces across Kenya.
