A recent survey has highlighted the primary financial hurdles preventing Kenyans from saving for retirement
High domestic living costs emerge as the leading barrier, with 44 per cent of respondents identifying household and family expenses as their main obstacle
Low or irregular income ranks as the second biggest impediment, affecting 37 per cent of individuals
Debt servicing further strains household budgets, with 24 per cent citing debt payments as a key reason for hindering their retirement savings
Meanwhile, alternative financial commitments—such as investments in business, property, land, or farming—divert potential pension savings for 19 per cent of people
Administrative costs and institutional confidence also play a role, though to a lesser extent. Fees or charges deter 10 per cent of Kenyans from putting money aside for their later years, while a lack of understanding or trust accounts for 4 per cent.
These findings stem from the SanlamAllianz Retirement Benchmark Report Kenya, released on October 12, 2026
The data underlines how immediate economic pressures, particularly everyday living costs and income instability, continue to outweigh long-term financial planning for many Kenyans across the nation
