Pensioners have until the end of February 2025 to register with the new pensioner self-registration portal or face suspension from the payroll.
National Treasury Principal Secretary Dr Chris Kiptoo says the government is looking to eliminate inefficiencies in processing claims as part of a new end-to-end Enterprise Resource Planning System (ERP).
According to Treasury, Kenya holds about Ksh 2 trillion in assets in the pensions sector, with only 26pc of Kenyans enjoying pensions.
The government says that these numbers can improve if efficiency and reliability are improved through technology in the pensions sub-sector .
The launch of the new E-registration portal, which is a module of an overall proposed e-pension system is targeting pensioners who have especially been registering challenges such as loss of records or incorrect pension balances among others.
For the 2022/2023 financial year, Treasury planned to process 28,422 claims but finished the year with only 18,640 applications.
This indicates a drop in the number of files processed due to slow payments of claims.
The government has also developed a new system that will increase the number of Kenyans in the formal pensions system by targeting the informal sector.
