Retirement Benefits Authority

Amends the Local Authorities Provident Fund Act to establish the County Governments Retirement Fund; provide for contributions to and administration of the Fund; establish the County Governments Retirement Fund Board; and align the Act with the Constitution of Kenya, 2010 and the County Governments Act, Cap. 265.

The Bill amends the Local Authorities Provident Fund Act to establish the County Governments Retirement Fund; provide for contributions to and administration of the Fund; establish the County Governments Retirement Fund Board; and provide for benefits to contributors.

The Framework establishes unified regulatory standards, strengthens market conduct supervision, enhances cooperation among regulators, and improves consumer awareness and financial literacy.