Session 3 - Dennis Oluoch - RBA - Kenya.pdf

1、PAYOUT PHASE:DESIGN&SUPERVISION IN KENYAPresented:OECD/IOPS GLOBAL FORUM ON PRIVATE PENSIONS 6 7 NOVEMBER 2025,ISTANBUL,TRKIYE.OUTLINE OF PRESENTATION2SUPERVISION OF INCOME DRAW DOWN3SUPERVISORY CHALLENGES4RESPONSE&INTERVENTION1PAYOUT PHASE OPTION2PAYOUT PHASE:DESIGN IN KENYAPrimary payout phase opt

2、ions-Provident-PensionPension Options-Annuity-Income DrawdownRegulatory Oversight-Income Drawdown:Supervised by RBA-Annuities:Separate authority within the financial sector3DECUMULATIONSTRUCTURE OF SCHEMES IN KENYA45%95%DBDC100%62%38%DBDCPensionProvidentSUPERVISION OF INCOME DRAWDOWNLicensing Mandat

3、ory registration by RBA Irrevocable trust structureGovernance Independent and qualified trustees Defined roles for trustees and service providers Fit-and-proper requirementsMember Protection Eligibility criteria,with no discrimination requirement Disclosure obligation to members at joining and ongoi

4、ng basis Dispute resolution mechanismsSUPERVISION OF INCOME DRAWDOWNBenefit Structure Minimum 10-year drawdown period Maximum 12%annual withdrawal Flexibility in timing and withdrawal amount Portability and right to transfersInvestment Formulate and periodic review investment policy Asset allocation

5、 limits;no direct property investmentReporting Mandatory reporting obligations to both members and the supervisory authority.7SUPERVISORY CHALLENGESComplexity of Products Regulatory Coordination Gaps Governance and Trustee CapacityLongevity,Market&Inflation Risk8o Consumer education and financial li

6、teracy programso Diversification of investmentso Combining income draw down with guaranteed income productso Cross-sector collaboration by supervisory authoritieso Capacity building RESPONSE AND POLICY INTERVENTION9Thank youThank youRahimtu