Kenyan MPs Raise their Pension by 700 Per Cent

Kenyan Members of Parliament have raised their pension by 700 percent to Sh1.7 billion in the upcoming financial year that runs between July 1st, 2018 and June 2019.

This is in comparison to the Sh262 million paid out to the legislators in the current financial year, with the figure expected to rise to Sh2.7 billion by July 2020.

The increase in pension for the MPs is indicated in the National Budget estimates for 2018/19 released by the National Treasury last week.

The report further indicates that Kenyan taxpayers will shoulder over Sh15 billion in additional pensions during the next financial year, the biggest share going to the 196 Members of Parliament (MPs) who lost their seats in the last general elections.

“The total number of retirees is projected to rise from 19,300 in the current financial year to 19,800 in the 2018/2019 financial year,” stated Treasury in the budget statement tabled in Parliament last week.

It adds:“Consequently the total pension payments are projected to rise from the estimated Sh71.8 billion in the current financial year to Sh86 billion in the 2018/19 financial year and Sh104 billion in the following year.”

The additional allocation on pension follows last year's motion by Parliament to pay one-term MPs who failed to defend their seats in last years’ elections Sh18.8 million each in lieu of pension.