On May 26th, 2022, President Uhuru Kenyatta presided over the opening of the new Central Bank of Kenya (CBK) Pension Towers in Nairobi's Central Business District.
The President described the building as a 'towering symbol of a legacy of good works' and a testament to the dedication of senior citizens who have contributed to the nation's development.
'What is also admirable about the construction of this building is that it was fully financed from internal resources of the Pension Fund, with no contribution from the Central Bank of Kenya (CBK),' Uhuru said.
The President noted that his government has significantly improved the welfare of senior citizens in the country over the last 10 years.
'It is often stated that one of the best measures of how progressive a country is; is how it treats its older citizens. And by that measure, Kenya has over the last decade dramatically improved the way we treat our senior citizens,' the President said.
Uhuru also commended the CBK Pension Fund for tapping into local human capital, noting that the professionals who worked on the project were all young Kenyans.
He pointed out that the inauguration of the building celebrates the rising role of the pensions industry in accelerating the achievement of the national development agenda.
Since the enactment of the Retirement Benefits Act in 1997 and the establishment of the Retirement Benefits Authority in 2000, pension assets have grown from Ksh40 billion in 2000 to Ksh1.4 trillion as of June 2021.
