The Retirement Benefits Authority (RBA) is Kenya’s regulatory body under the National Treasury established to regulate the retirement benefits industry.
The authority was established under the Retirement Benefits Act. Prior to enactment of the act, the retirement benefits schemes in Kenya were regulated by fragmented legislation, mostly Trust and Income Tax Laws. Without a specific body or regulations to set industry standards, pension schemes adopted different styles of operation.
Retirement Benefits Authority is mandated to:
- Protect the interest of members and sponsors of retirement Benefits schemes.
- Advise the Government on matters relating to retirement benefits.
- Develop and promote the retirement benefits sector.
- Implement all Government policies relating to retirement benefits.
- Regulate and supervise the establishment and management of retirement Benefits schemes.
The current members of the RBA Board of Directors are:
- Mr Victor R. Pratt – Chairman
- Mr Nzomo Mutuku – Acting Chief Executive Officer
- Mr Paul Muthaura – Ex-officio
- Mr Vincent Rotich – Director
- Dr Hillary Barchok – Director
- Mr Joseph Ngugi – Director, Representative of the Cabinet Secretary in the National Treasury
- Mr Steve Gichohi – Director
- ^ Jump up to:ab “About us”. www.rba.go.ke. Retrieved 2018-12-14.
- ^“The Role of the Authority”. www.rba.go.ke. Retrieved 2018-12-14.
- ^“The Board of Directors”. www.rba.go.ke. Retrieved 2018-12-14.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder TBIL.co STATX Fund.